Be warned: ATM card transactions are being watched, say experts

Be warned: ATM card transactions are being watched, say experts
Tags: Bank / Credit Union, Bank Automation, Bank Security, Debit / Credit, North America, Regulatory Issues, Retail / Off-Premises, Security, Transaction Processing, Trends / Statistics
March 13, 2008

ABC News: Every time you swipe your credit card, take cash out of an ATM or transfer money into your bank account, a sophisticated network of computers is keeping track. The fraud detection systems — which security experts say vary widely — want to know: Are you trying to launder money or has somebody stolen your credit card or ATM card and making purchases? Some data is kept by the banks and credit card companies and other information is passed on to the federal government.