The Central Bank of Nigeria(CBN) issued a report in which they reveal that fraud attempts on automated teller machines decreased by 98.5% in the last period.
Gaius Emokpae, the director of Banking and Payment Systems at Central Bank of Nigeria, stated that, thanks to the introduction of chip and PIN cards, the crimi... |
4 November 2011
09:46 GMT |
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According to the latest annual report from the European ATM Security Team (EAST), ATM fraud losses amounted to €268 million in 2010, which represents a 14% reduction over the previous year.The €44 million drop comes after an ever bigger fall of 36% in fraud losses registered during 2009 and is also coupled... |
13 April 2011
01:41 GMT |
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A Romanian national has pleaded guilty to one count of conspiracy to commit bank fraud resulting from his participation in a criminal operation that involved installing skimming devices on ATMs.Alexandru Razvan Serb, 39, was indicted back in May on charges of conspiracy to commit bank fraud and access device fraud, a... |
8 December 2010
13:46 GMT |
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Credit card fraudsters are increasingly resorting to salami ATM attacks, that are very difficult to detect and can result in significant losses.The new method was described by Gartner Vice President and Analyst Avivah Litan, who calls it "flash attack," because it involves hitting many ATMs at the same time.The attac... |
28 October 2010
05:56 GMT |
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Two Jamaicans arrested last week under suspicion of ATM fraud are the first persons charged for offenses under the country's cybercriminal legislation.In order to combat a significant rise in electronic crimes in the country, last December the Jamaican legislators passed the Cyber Crimes Act.The law provides cri... |
7 September 2010
04:49 GMT |
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RBS WorldPay announced in December that a security breach on its network might have compromised the personal information of 1.5 million credit card holders. The company noted at the time that around 100 cards had already been misused by unidentified cyber criminals. However, what it didn't say was that the fraud... |
4 February 2009
09:18 GMT |
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