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Best ATM scam ever
Topic Started: Dec 23 2006, 11:53 AM (153 Views)
George K
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Finally
The cleverness of some thieves never ceases to amaze me:

http://www.snopes.com/fraud/atm/atmtheft.asp

If your card is "confiscated" by an ATM and someone offers to help get it out, don't let him.
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***musical princess***
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HOLY CARP!!!
That's crazy... these guys are so clever...

But then again, you'd have to be pretty stupid to put your pin in the machine in front of a total stranger anyway.

x
x Caroline x
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Axtremus
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HOLY CARP!!!
It's a clever low-tech, low-cost stunt.

The high tech version I've read elsewhere is this:

The crook builds a card-reader that he attaches to the ATM's reader. So when the chump inserts the card, the card passes through the crook's card-reader before it goes into the ATM's card reader.

The crook also builds a numeric keypad that he overlays on top of the ATM's keypad. That overlay keypad captures every keystroke that the chump makes as he accesses the ATM.

With these two components, the crook can create fake cards with magnetic strips that can fool the ATM into believing that it's a real card, and also have PIN associated with the cards.

There is a technology called "magnetic finger-printing" that can guard against "fake cards." The basic science for "magnetic finger-printing" was worked out almost a decade ago. But I do not believe this technology has been accepted for use by any major financial institution to date (and probably won't if the we just move to "smart card" technology -- just embed micro-chips into the cards and to heck with the magnetic strips).
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