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| | The Business Finance,Taxes and Business Operations Network is not currently active and cannot accept new posts | | ATM thieves. Are they for real? Pls tell me | Views: 1574 | | Jul 25, 2005 1:56 pm | | ATM thieves. Are they for real? Pls tell me | # | 
Zahid H Javali | | I got this forward from someone a week ago. Could ppl in the banking, business sector tell me if this is for real.
Tks and regards...
The email goes as follows...
Bank ATM's Converted to Steal IDs of Bank Customers
A team of organized criminals are installing equipment on legitimate bank ATM's in at least 2 regions to steal both the ATM card number and the PIN. The team sits nearby in a car receiving the information transmitted wirelessly over weekends and evenings from equipment they install on the front of the ATM.
The equipment used to capture your ATM card number and PIN are cleverly disguised to look like normal ATM equipment. A 'skimmer' is mounted to the front of the normal ATM card slot that reads the ATM card number and transmits it to the criminals sitting in a nearby car.
At the same time, a wireless camera is disguised to look like a leaflet holder and is mounted in a position to view ATM PIN entries.
The thieves copy the cards and use the PIN numbers to withdraw thousands from many accounts in a very short time directly from the bank ATM. Private Reply to Zahid H Javali | | Jul 25, 2005 4:56 pm | | re: ATM thieves. Are they for real? Pls tell me | # | 
Angelo Cerase | | I used to work for a bank for numerous years and I can tell you that it never ceases to amaze me how ingenious thieves can be.
Where I have not heard of that particular technique, I have heard of something similar. Customers here use their bankcards to make a purchase at a store. The card is swiped twice, once in the main machine, and once in a separate machine that 'clones' the card. Then they have another way to see what number you type in, for example a hidden camera pointed at the keypad, that has been fixed in a location.
Fortunately for the consumer, they are not liable for it, the bank is. However, proving that is a hassle. At least that's how it is over here. THere is more protection for the consumer in credit card fraud though.
And since people that do the sort of stuff like that (requires a fair amount of R&D to develop some illegal things) they are usually organized crime, and therefore the cops do get involved and ever so often you hear about the cops cracking some large conterfeiting credit/ATM card operation.
So, to answer your question, yes, even though it sounds improbable to law-abiding citizens like us, this stuff probably happens a lot. The best thing you can do is to check with your bank the rules regarding this and how you are protected and what the bank does in these situations. Or, even better, since talk is cheap, find someone that this has happened to and find out how they were treated by their bank. And of course, be on the look-out for anything suspicious or out of place, since we all pay for crime eventually.
Angelo Private Reply to Angelo Cerase | | Sep 18, 2005 12:32 pm | | re: re: ATM thieves. Are they for real? Pls tell me | # | 
Zeena Noronha | | Hi Angelo,
I agree with u about ATM fruad! It happend with me couple of months back and when i reported this to the bank they were tollay shocked to hear this! That means they were not aware about ATM fruads any in city!
Though, i hv not got my money back I felt much relaxed to read in our local newspapaer that this matter been discussed at the top level and bank had taken steps to track such frauds!
J Noronha
Private Reply to Zeena Noronha | | Oct 23, 2005 6:05 am | | re: re: ATM thieves. Are they for real? Pls tell me | # | 
Uma Basso | | These things do happen, unfortunately.
I had something similar happen to me where someone obtained my credit card, which was tied to my bank account. So it's not like a typical credit card. The bank will usually cover things like this - but you really have to look into your particular bank's policy. Especially when it has to do with credit cards that are tied into your bank account. I've dealt with fraudulent issues before on regular credit cards (not tied into your bank account) and usually a phone call will take care of the problem.
My bank required me to pretty much jump through hoops in order to get my money back, and it was really not a guaranteed thing. Because I didn't catch that this charge was done until a few weeks afterwards - I had to prove that I was not at the location where the charge took place, file police reports, try to work out repayment from the store directly - before the bank would really get involved. They would give me my money back, but it took over two months to get it!
Although it is an extreme convenience to have Debit / Credit cards tied to your bank accounts - it is an extreme inconvenience when something goes wrong. If you are spread a little thin with respect to your bank balance - this can be an unbelievable inconvenience.
Also - if you have anything tied to a savings account (such as overdraft protection) - this can be devasting.
I have made changes with respect to using my debit / credit cards and typically do not use anything that is tied directly to my bank account. The convenience of these cards is wonderful, but the potential for someone stealing your money was just too great for me. Private Reply to Uma Basso | | Jun 12, 2006 10:29 am | | re: re: re: ATM thieves. Are they for real? Pls tell me | # | 
Kamal Dave | | Hi All,
Infact the ATM/Credit/Debit Card fraud are on rise and surely one has to be cautious.
The clonning of the ATM cards are being done while even transacting. The fraudster install the ATM READER over the ATM and reads all the electronic data and the pin no it reads through the pin hole camera installed secretly and after getting the data both card and pin it clones the card and cause loss to the A/C holder.
Besides the technical remedies and reporting, Of course you have legal remedy that one needs to initiate. Although that may be cumbersome.
Thanks
Kamal Dave
Advocate
Private Reply to Kamal Dave | | Jul 23, 2006 9:15 am | | re: re: re: re: ATM thieves. Are they for real? Pls tell me | # |
Jerry Lim | | Besides the skimmer illegally installed on ATMs, the last one heard was more incredible....
A Totally Fake ATM machine that comes with the bank logo, ATM card insertion and even its own security cameras!!
Inside the fake model is a machine that start logging into a PC transmitting vital data to another PC manned by a fraudster located nearby....Private Reply to Jerry Lim | | |
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