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Fraudulent ATM Withdrawls

clowny

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Mar 23, 2005
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coverup

believe me there is a big assed cover up to this and the banks are losing TONS. I had this hapen twice in the last 6 months. The last time, i had only used my atm card 4 times in the past month yet someone took $1000 from my account using my pin number. But my bank could not refund me fast enough! And they rushed me to sign a confidentiality document. One of the bank employees said they get so many a month it's hard to keep track. I think their security's shit and they don't want people to know so they're eating the costs while trying to figure out how to stop it.
 

tboy

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Aug 18, 2001
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Hmm so you signed a confientiality agreement ???:rolleyes:

This has been going on ever since interact first came out. The very first occurance was where the perps put a tracker on a store's phone line (easy since most use a dedicated line for the interact) and just recorded all the beeps. When you scan the card each digit of your card number sends a digital signal down the line...then there is a delay when you enter your pin.

It was relatively easy for them to determine the card number and pin number from their recordings. I think the parts to make a card programmer cost about 8 bucks to make and supposedly you can buy blank mag cards anywhere.

Another big scam is to have a card reader under the desk and a vid camera pointed at the keypad. Be careful and watch the clerks with your card. Also, don't use a locked down keypad and if it is, cover it up extremely well.
 

Berlin

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Jan 31, 2003
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Can't agree more.

Sadly , people are so used to using plastic that cash to most is like a strange breed. Even for a $ 5 Mac meal, they'd be swiping away. I think we are stuck with this popular but security flawed tech for a long future.
 

tboy

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Aug 18, 2001
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Well, the world is moving to a cashless society and this is partly due to the cost factor of maintaining a currency. This includes counterfits as well as minting, printing, etc.

Get used to it, I'd say in 10 or 15 yrs, cash will be frowned upon.

And while you're getting so upset over the fact that it is possible to crack the system, just think about how many billions maybe trillions have been lost due to counterfitting?
 

Berlin

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Jan 31, 2003
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tboy said:
And while you're getting so upset over the fact that it is possible to crack the system,
Upset ? Nah... for me, it's more the feeling of helplessness.
 

tboy

resident smartass
Aug 18, 2001
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Fred Zed said:
How does someone in Moscow step up to a cash machine and withdraw money from an account holder half a world away? Even when the debit card is still in the victim's wallet?http://redtape.msnbc.com/2006/03/how_can_someone.html
Actually with the networking of banking machines it is no different than using one right next to the guy. Whenever I travel to the US I don't withdraw or convert any money here, I just withdraw whatever I need while across the border. The exchange rate is exactly what the market rate is at the time of withdrawal and there's no percentage service charge like all banks charge.

Once you clone the card, and obtain the pin, it can be used anywhere there's a bank machine....(another drawback to the system).

They are talking about doing away with PIN numbers and using thumbprint scanners. But then, you'd have all these guys walking around with silicone thumbs.....
 

thewheelman

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Feb 3, 2004
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TD / Canada Trust is now issuing cards without names stamped on them. Apparently everyone will get a new card soon, and there will be no more mailing of cards.
 
clowny said:
believe me there is a big assed cover up to this and the banks are losing TONS. I had this hapen twice in the last 6 months. The last time, i had only used my atm card 4 times in the past month yet someone took $1000 from my account using my pin number. But my bank could not refund me fast enough! And they rushed me to sign a confidentiality document. One of the bank employees said they get so many a month it's hard to keep track. I think their security's shit and they don't want people to know so they're eating the costs while trying to figure out how to stop it.
It's likely to be an insider job as it happened to blocks of customers. For some several times, even after new cards/pins were issued.:rolleyes:

New gen of tighter plastics are available, reissue to everyone is too costly, they rather pay the loss.

tboy, the future is using cellphone as debit/credit card, like pre-charged Shell gas tags, wave it in front of machine. Popular in Korea, catching on in Japan and EU.
 

Morgan Ellis

Bitchy McBitcherson
Twice in the last six months I've received phone calls from Canada Trust telling me that an ATM/Debit location I had used had been caught operating a card reader, and that I'd have to come in to get a replacement card.

As they explained it to me, the card readers are covertly attached to the ATM or store debit system, and 'read and record' your card number and PIN. These are then used to create new cards, which are quickly used to suck accounts dry. Neither time would they tell me what the location was that had been caught doing this, for 'confidentiality' reasons.

In the second case, I do recall having used a few of the smaller, independent, in-store ATM machines. Now I stick to branch ATMs only, and I'm much more careful about the stores where I use my debit card.

- Morgan
 
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