Criminal ATM network
"Okay, at 3:03 pm… one, two, three… everybody steal!"
A new type of attack steals money from your ATM card:
- Thieves put a small electronic device (called a skimmer) in a point-of-sale device at lots of stores.
- When you use it, the device steals your debit card information and your PIN code.
- The stolen data is sent to a central location.
- The crooks create many duplicates of your card.
- They tape your PIN to the card.
- They mail your counterfeit cards (along with many others) to accomplices all around the country.
- At a specific time, all the accomplices use your counterfeit ATM card simultaneously.
- The accomplices each withdraw a small amount of your money from each ATM.
- They wait a few days or weeks.
- They’ve stolen your money.
Debit cards have less security than a credit card, so even though it’s impossible for you to be all over the country withdrawing from so many ATMs at the same time, the bank’s fraud detection software isn’t able to detect it.
In one month, they could steal half a million dollars.
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