Fraudsters reprogram ATMs to access cash

Fraudsters reprogram ATMs to access cash
Tags: Bank / Credit Union, Debit / Credit, Retail / Off-Premises, Security, Transaction Processing
September 21, 2006

The (London) Register: Reprogramming an ATM to dispense more cash is far easier than anyone imagined. Last week CNN screened a video of a man suspected of reprogramming an ATM to dispense $20 bills that it thought were $5 notes, so fraudsters and the unscrupulous were able to withdraw four times more money than was debited from their accounts. The suspect used a prepaid debit card to make withdrawals, making it harder for police to track him down.