Want to reduce ATM skimming incidents? Heed the advice of Seattle-area banking institutions and law enforcement officials, who have gleaned a half-dozen clues from that region's recent fraud investigations.
Federal investigators say the two latest suspects, along with other accomplices, are suspected of being connected with Seattle-area debit- and credit-card skimming schemes that span at least six months.
President Obama's plan to slash more than $3 trillion from the nation's deficits, unveiled on Monday, includes savings of more than $5 billion from cutting waste, fraud and abuse in Medicare and Medicaid.
Payments are moving away from tangible currency to so-called new economies, where value relies more on reputation than currency. Venues such as Facebook facilitate e-commerce via new economies. But as with any change in the payments scheme, industry experts expect these new economies to be accompanied by new risks.
The arrests of three Seattle-area men for their involvement in two separate ATM-skimming schemes highlight technological and social vulnerabilities that international fraudsters have learned to exploit with ease.
Three Seattle area men have been arrested for their alleged involvement in separate ATM skimming schemes that drained more than half a million dollars from retail customer accounts in at least six states.
According to the Pasco County, Fla., Sheriff's Dept., at least 44 customers were defrauded of thousands of dollars, after their cards were skimmed at two walk-up ATMs at area banks, including Bank of America.