News

Oregon Credit Union reissuing thousands of debit cards due to ATM bank fraud case

June 19, 2011

KMTR in Eugene, Ore. has reported that Oregon Community Credit Union closed thousands of its customers' debit cards as a preventative measure to reduce the number of victims in the ATM bank fraud case involving Michaels craft stores.

The credit union reports that nearly 2,000 customers were affected by the Michaels fraud case, which targeted customers who used their debit cards in the store.

In May, Michaels discovered several debit card PIN pads were compromised, exposing debit card accounts and PINs to an unauthorized third party. In June, scammers began fraudulently withdrawing cash from the bank accounts of people who had shopped at Michaels between February and May.

“As it started to escalate, which happened very quickly, we made the decision to close those cards,” said Heather Billings, director of marketing at OCCU.

OCCU remained open on Saturday, June 18 to handle reissuing of debit cards to its customers.