Disputed ATM charges on the rise

Disputed ATM charges on the rise
Tags: Bank / Credit Union, Debit / Credit, EFT Networks, Regulatory Issues, Security, Transaction Processing, Trends / Statistics
February 5, 2006

Newsday: The Co-Op Network has seen ATM fraud balloon since 2003. Chargebacks - credits to customers for disputed charges - increased from 42 percent of customer credits in 2003 to 88 percent during the last quarter of 2005. Most of that increase related to checking-account debit charges that required only a signature, said James Hanisch, executive vice president of operations for the Ontario, Calif.-based network.