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£3 million from a simple ATM skim

I was just surfing the BBC news for information about the new Governor of the Bank of England and found this as the #1 most viewed video clip today.


The story is about a Romanian fraudster who admitted to stealing
£3 million from a card-skimming scam.  He
couldn’t exactly deny it, as he was caught red-handed on CCTV when he returned
to collect his high-tech skimmer.

After his arrest, police discovered he had
obtained about 9,000 bank card PIN numbers.

The only thing that gets me is that I’ve
seen these skimmers for years, and would have thought that the ATM technology would have developed far
enough by now to stop such fraud happening.

Oh, it has?

We just need to upgrade those ATMs.

About Chris M Skinner

Chris Skinner is best known as an independent commentator on the financial markets through his blog, TheFinanser.com, as author of the bestselling book Digital Bank, and Chair of the European networking forum the Financial Services Club. He has been voted one of the most influential people in banking by The Financial Brand (as well as one of the best blogs), a FinTech Titan (Next Bank), one of the Fintech Leaders you need to follow (City AM, Deluxe and Jax Finance), as well as one of the Top 40 most influential people in financial technology by the Wall Street Journal’s Financial News. To learn more click here...

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