--- begin forwarded text
Delivered-To: [EMAIL PROTECTED] Date: Tue, 2 Aug 2005 09:41:54 -0400 To: Philodox Clips List <[EMAIL PROTECTED]> From: "R.A. Hettinga" <[EMAIL PROTECTED]> Subject: [Clips] Online ID Thieves Exploit Lax ATM Security Reply-To: [EMAIL PROTECTED] Sender: [EMAIL PROTECTED] <http://online.wsj.com/article_print/0,,SB112295453682902381,00.html> The Wall Street Journal August 2, 2005 Online ID Thieves Exploit Lax ATM Security DOW JONES NEWSWIRES August 2, 2005 Online identity thieves are exploiting lax cash-machine security to bilk banks out of as much as a million dollars a month each, a report from research firm Gartner Inc. shows. According to the report, which is scheduled for release today, fraudsters are increasingly gathering consumer automated-teller-machine information with "phishing" scams and hacker programs for capturing keystrokes, which they are using to make fake cards and empty consumer bank accounts. Gartner said thieves are taking advantage of the fact that as many as half of banks don't check special, difficult-to-steal security codes that are hidden on ATM cards' magnetic strips before dispensing cash, Gartner says. Attackers even trade information online about which banks don't check the codes. "They're phishing for the account number and PIN. That's all they need to create a counterfeit card," said Gartner analyst Avivah Litan. In phishing scams, fraudsters use deceptive email and Web sites to trick people into divulging sensitive financial information. ATM fraud is emerging as a major new problem for banks. Losses are approaching those from credit-card fraud, a Gartner survey of 5,000 consumers found. The firm estimates ATM fraud resulted in $2.75 billion in losses in the year ended May 2005, compared with $2.9 billion for credit-card fraud and $3.5 billion for fraudulent checking-account transfers. -- ----------------- R. A. Hettinga <mailto: [EMAIL PROTECTED]> The Internet Bearer Underwriting Corporation <http://www.ibuc.com/> 44 Farquhar Street, Boston, MA 02131 USA "... however it may deserve respect for its usefulness and antiquity, [predicting the end of the world] has not been found agreeable to experience." -- Edward Gibbon, 'Decline and Fall of the Roman Empire' _______________________________________________ Clips mailing list [EMAIL PROTECTED] http://www.philodox.com/mailman/listinfo/clips --- end forwarded text -- ----------------- R. A. Hettinga <mailto: [EMAIL PROTECTED]> The Internet Bearer Underwriting Corporation <http://www.ibuc.com/> 44 Farquhar Street, Boston, MA 02131 USA "... however it may deserve respect for its usefulness and antiquity, [predicting the end of the world] has not been found agreeable to experience." -- Edward Gibbon, 'Decline and Fall of the Roman Empire' --------------------------------------------------------------------- The Cryptography Mailing List Unsubscribe by sending "unsubscribe cryptography" to [EMAIL PROTECTED]
