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ATM Fraud Hitting the Southwest. Are you protected?


Clients have recently reported around $40K in theft:


We received two reports in 2019 of ATM Fraud, involving a ring of criminals using fraudulent debit cards to drain ATM's. The Cards are attached to real customer accounts and the criminals have managed to create their own PIN Numbers. The criminals are able to use multiple cards to withdrawal up to the card daily limit ($300.00) over and over until the machine is drained. The criminals are using multiple cards tied to various accounts.


How Do We Protect The Bank?


The best way to protect the Bank is to ensure your ATM's only accept EMV cards (Chip). These cards are harder to reproduce and chip enabled ATM's provide the Bank a reduction in liability. Bank's without chip enabled ATM's may be liable for the entire transaction.


How Are Criminals Getting These Cards?


The account numbers and PIN's are readily available for sale on the dark web. Prior breaches effecting large numbers of customers (Target, TJ Max, and ETC) may result in delayed fraud. A Lot of times these crooks hold on to the information before striking at once.


What Else Should We Do?


Check your ATM's cash usage daily for large decreases or increases in activity without cause. Instantly pull video footage and submit to the FBI or local authorities. Contact your processor to determine if FRAUD alerts or usage alerts can be placed to shut down multiple withdrawals within a short amount of time.

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Contact Us

 Address. 20 Esquila Road, Santa Fe NM 87508

M. Scott Edwards

Tel. 505-263-5796

Bob Thrash

Telephone: 505-263-3666

© 2019 Edwards, Valen, & Associates LLC an affiliate of EV Banking Solutions LLC