These Fraud
alerts have been reproduced with
kind permission of Fair
Isaac
Fraud Alert
no 18- GASA Global Fraud Alert no.3:
Procedures for Safe Disposal and Exchange of ATMs
Extract -
Fraud Risk Scenario: Occasionally, second-hand or
even new ATMs fall into the wrong hands. ATMs re-sold
on the “black market” may be obtained
by criminals for the following illegal purposes:
the ATM itself could then used to capture PIN and
card data fraudulently, with the screen giving a
message, after the insertion of the card, that it
is "out of order" parts of the ATM may
be used to produce skimming equipment such as fascias
& card readers software may be analysed for
points of entry and points of compromise where feasible,
PIN encryption could be de-crypted.
Fraud Alert no 17-
Electronic Payments Provide
Safer Alternatives to Demand
Drafts
Extract -
The recent proliferation of
online payment companies that
issue “no signature required”
demand draft checks has caused a
surge in demand draft fraud.
While this seems to be a
convenient service, the process
by which these ‘pass through’
companies operate has provided
the perfect opportunity for
criminals to create a lucrative
business. The end result is that
the banking industry is
suffering the losses. Due to
lack of regulations in this
area, these payment companies
enable any “valid checking
account” to be setup to issue
demand drafts, essentially
making it available to anyone
who has Internet access and
valid routing and account
numbers.
Fraud Alert no 16- ATM
Master Passwords
Extract -
In our continuing efforts to
minimize risk exposure for our
members, we are providing the
following information about ATM
master passwords. As we all
understand, ATMs, in the vast
majority of cases, are initially
distributed from the factory
with master passwords pre-set.
