| Organized cyber criminals stole almost $11 million in two highly coordinated ATM heists in the final days of 2012, KrebsOnSecurity has learned. The events prompted Visa to warn U.S. payment card issuers to be on high-alert for additional ATM cash-out fraud schemes in the New Year.
According to sources in the financial industry and in law enforcement, the thieves first struck on Christmas Eve 2012. Using a small number of re-loadable prepaid debit cards tied to accounts that they controlled, scammers began pulling cash out of ATMs in at least a dozen countries. Within hours, the perpetrators had stolen approximately $9 million.
Then, just prior to New Year’s Eve, the fraudsters struck again, this time attacking a card network in India and making off with slightly less than $2 million, investigators say. Read More .. |
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Visa's heardle 80s warning to payment card issuers highlights the need for financial institutions to remain vigilant and implement robust security measures to detect and prevent ATM cash-out fraud schemes. This type of fraud can have serious financial consequences for both the banks and their customers.
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This research highlights the importance of strong cybersecurity measures. We all need to be vigilant in protecting our data and privacy online.
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