ATM Fraud


Bank of America Employee Sentenced Following ATM Scam

A former Bank of America employee was sentenced to twenty seven
months in prison after installing software on the bank’s computers that
allowed him to steal thousands of dollars from ATMs, according to an
Associated Press report.Rodney Reed Caverly of Mint Hill, N.C.
was ordered to pay $419,310.90 in restitution, according to the U.S.
Attorney’s office in Charlotte. Caverly, who worked for BOA’s IT
department, plead guilty last year after it was discovered he’d
programmed certain BOA ATMs “to make fraudulent and unauthorized
disbursements of cash.”

Survey Finds Banks Struggling As Fraud Grows

A survey conducted by Information Security Media found that new fraud methods, including phishing
and Internet enabled account takeovers are an increasing problem for
banks, but that many organizations are ill equipped to combat the new
threats.


You might think everything that needed to be said already has been said about Albert Gonzalez, the mastermind behind the largest public computer security breaches in U.S. history. But the lengthy and up close account of Gonzalez in the New York Times today shows that there are more layers to what is, perhaps, the most spectacular hacking case in recent memory.

Operating and planting an ATM skimmer can be a risky venture, because the crooks have to return to the
scene of the crime to retrieve their skimmers along with the purloined
data. Some criminals are now using ATM skimmers that
eliminate much of that risk by relaying the information via text
message. Read the full article. [KrebsonSecurity]

A North Carolina grocery worker is being held without bail in Houston
on attempted computer hacking charges after inadvertently partnering
with an undercover FBI agent in an alleged citywide ATM-reprogramming
caper. Thor Alexander Morris, 19, was arrested at a Houston flea market last
month after trying a default administrative passcode on a Tranax
Mini-Bank ATM there, according to the FBI. Read the full article. [Wired]

Security reporter Brian Krebs goes visual with ATM skimmers, asking readers to look at images and see if they would be able to tell the difference between a real ATM card reader and actual skimming devices. Read the full article. [KrebsonSecurity.com]

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