Financial fraud expert Joe Rogalski explains why card issuers are ultimately responsible for losses linked to ATM cash-out schemes, like the $45 million worldwide cyberheist that made headlines last month.
A recent ATM cash-out scheme that netted $45 million puts a spotlight on the need for preventive measures, says John Buzzard of FICO's Card Alert Service. He offers several fraud mitigation tips.
How could global fraudsters steal $45 million from banking institutions without being detected or stopped? It was a process breakdown, not a technology failure, says fraud expert Avivah Litan of Gartner.
Authorities have shuttered a digital currency service allegedly used to launder funds stolen in a $45 million ATM cash-out scheme exposed earlier this month. Learn why experts say lax laws paved the way for the fraud.
Gary Warner, a computer forensics researcher at the University of Alabama at Birmingham, says malware aimed at POS systems isn't likely to affect ATMs. But others say the threat to ATMs is viable.
Visa has warned U.S. payment card issuers to be on the lookout for global ATM cash-out fraud. What are the signs banking institutions should monitor to help detect, prevent and report these schemes?
The continuing loss of data to China suggests that the federal government should carefully assess the cybersecurity implications associated with the expansion of Chinese cloud and mobile providers in the U.S.
A federal court has handed down a five-year prison term, plus restitution, to a Seattle man who targeted Chase ATMs in a four-state skimming scheme. Is this a sign sentences are getting steeper?
Israel is being blamed - or, perhaps, taking credit - for the creation of Flame, the sophisticated cyberspyware that has targeted organizations in the Middle East, especially its mortal enemy, the government of Iran.
Banks and credit unions say losses linked to card-skimming are a growing concern. Why are skimming attacks successful, and what can be done to thwart the threats?
Card skimming at ATM vestibule access doors is a source of increasing concern for financial institutions and law enforcement agencies. What new security measures should institutions take?
What security vulnerabilities are exposed by recent skimming attacks at eight Toronto hospitals? Fraud experts say there are lessons to be learned when placing ATMs outside traditional bank locations.
ATM skimming losses are down at European banks. But the low-tech scheme of cash trapping is on the rise. How should banking institutions respond to this latest fraud trend?
"What happens in Vegas got 19 people busted," says Robert Siciliano, a McAfee consultant and ID theft expert, on the latest busts. "The fight against card fraud is beginning to look like the war on drugs."
In a U.S. ATM skimming case with ties to a Romanian crime ring, Ismail Sali confessed to bank fraud, conspiracy, access device fraud and aggravated identity theft. What sentence does he now face?
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