Banks Warned About Massive ATM Frauds, Attacks On Websites

Banks Warned About Massive ATM Frauds, Attacks On Websites

It’s hard to feel bad for the banking business, but financial institutions can take a huge hit when consumers are the victims of large-scale fraud or ID theft. Replacing debit and credit cards, issuing refunds, investigating sketchy transactions can all add up — and of course that cost ultimately gets passed on to customers. This is why federal regulators are putting banks on alert to be mindful of increasingly popular ATM fraud and to be prepared for attacks on their websites. [More]

Google now helps catch criminals. The FBI identified a Citibank PIN thief by cross-referencing security camera footage with an ICQ handle and personal photos on ham radio enthusiasts sites. [Information Week]