cardless ATM – Network Securitas

January 5, 2017

Stolen Passwords Fuel Cardless ATM Fraud

This post was originally published on this siteSome financial institutions are now offering so-called “cardless ATM” transactions that allow customers to withdraw cash using nothing more than their mobile phones. But as the following story illustrates, this new technology also creates an avenue for thieves to quickly and quietly convert stolen customer bank account usernames and passwords into cold hard cash. Worse still, fraudulent cardless ATM withdrawals may prove more difficult for customers to dispute because they place the victim at the scene of the crime. A portion of the third rejection letter that Markula received from Chase about her $2,900 fraud claim. […]

November 2, 2018

SMS Phishing + Cardless ATM = Profit

This post was originally published on this siteThieves are combining SMS-based phishing attacks with new “cardless” ATMs to rapidly convert phished bank account credentials into cash. Recent arrests in Ohio shed light on how this scam works. A number of financial institutions are now offering cardless ATM transactions that allow customers to withdraw cash using nothing more than their mobile phones. But this also creates an avenue of fraud for bad guys, who can leverage phished or stolen account credentials to add a new phone number to the customer’s account and then use that added device to siphon cash from hijacked […]