News

Bank of New Zealand caught in cross-border ATM fraud

April 10, 2006

Finextra: Cards skimmed from Bank of New Zealand ATMs have been used by criminals in Toronto to steal N.Z. $49,000 (U.S. $29,890) from customer accounts in an incident that turns the spotlight on the globalization of card crime. Around 60 cards are thought to have been compromised. To date, around $54,690 (U.S. $33,347) has been stolen. The bank cancelled around 2,000 ATM cards as a precautionary measure. The bank said, based on offending patterns and information provided by the police, its Diebold1072 ATMs may have been at risk of skimming fraud. Those machines are expected to be replaced this month.