New Fake ATM Keypads Extremely Difficult to Detect

Thursday, January 06, 2011

Headlines

69dafe8b58066478aea48f3d0f384820

Criminals never cease to innovate when it comes to finding new ways to come between you and your money.

Much has been written about card skimming devices being attached to ATMs in an effort to gather card numbers from unwitting bank customers. 

Once the thieves steal the numbers, they likely sell the information on the black market for very little, then other criminals use the information to make transactions where the presence of a card is not required, such as online or over the phone.

The thieves then have to arrange for delivery to a location that can not be traced back to them by law enforcement, such as a vacant house.

Once the goods are received, they then have to sell them finally get their hands on the cash. It is is a lengthy process that takes a long time to become profitable.

With the new fake ATM keypads, the time between skimming and cashing-in is reduced significantly.

image

 

The mock keypads are nearly undetectable to the lay person, and transmit PIN data in real time, along with the skimmed card information.

Criminals can then immediately begin stealing cash directly from consumer accounts by creating fake bank cards and draining accounts.

Bank customers are unlikely to detect the scam, as the bank machine will operate as expected by completing the transaction, issuing cash, and a receipt.

The devices are cheap to produce, easy to deploy, and provide instant access to user accounts and funds, which increases the chance the method will become widely utilized.

One measure that can partially counter the technique would be the adoption of chip-and-PIN technology, where bank and credit cards contain a microchip, making duplication of the cards extremely challenging.

Source:  http://www.net-security.org/secworld.php?id=10402

Possibly Related Articles:
18960
Security Awareness
fraud scam Banking Skimming Headlines Credit Cards Chip and Pin ATM Keypad
Post Rating I Like this!
The views expressed in this post are the opinions of the Infosec Island member that posted this content. Infosec Island is not responsible for the content or messaging of this post.

Unauthorized reproduction of this article (in part or in whole) is prohibited without the express written permission of Infosec Island and the Infosec Island member that posted this content--this includes using our RSS feed for any purpose other than personal use.