Atm Skimming
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ATM Skimming
An Ethical Look
April 16, 2013
In the world we live in today our currency is promises. Our money is just paper backed by the promise of the United States government to back it up with hard currency, i.e. gold. Due to our lack of hard currency in everyday life there are many different ways to pay for things. These include: checks, credit cards, paper currency, and bank cards. One thing that has not changed about money is that, like every other thing valuable, people will try to steal it no matter its form. One of the most damaging types of thefts now is that of ATM (Automated Teller Machine) Skimming. Most people keep the bulk of their capital in banks. They use ATMs to access that money. Thieves have a way to conspicuously steal the information unique to their accounts so they can access others’ money. This is devastating to people and it is this issue on which I write.
On February 12, 2013 an article was written. It was entitled ‘How alleged crooks used ATM skimmers to compromise thousands of accounts’. Federal Authorities have charged two men with running an operation to gain control of over 6,000 bank accounts. The banks targeted included: Capital One, J.P. Morgan Chase, among others. These criminals bought card readers and installed them on top of ATMs and doors to ATMs. They also made hidden pinhole cameras to watch people put in their pins. These people supposedly led a group of 9 or more people who put these devices all over cities. These cities included Manhattan, Chicago, and Milwaukee. The people would then use the information to make fake cards, which would be used for false purchases and withdrawals. This operation had “stash locations” to manage the information. One such facility had hundreds of hours of footage showing PINs being input. More than 1,000 blank cards were also found here. Due to the gravity of the crimes these men face around 40 years in jail. Prosecutors are also
ATM Skimming
An Ethical Look
April 16, 2013
In the world we live in today our currency is promises. Our money is just paper backed by the promise of the United States government to back it up with hard currency, i.e. gold. Due to our lack of hard currency in everyday life there are many different ways to pay for things. These include: checks, credit cards, paper currency, and bank cards. One thing that has not changed about money is that, like every other thing valuable, people will try to steal it no matter its form. One of the most damaging types of thefts now is that of ATM (Automated Teller Machine) Skimming. Most people keep the bulk of their capital in banks. They use ATMs to access that money. Thieves have a way to conspicuously steal the information unique to their accounts so they can access others’ money. This is devastating to people and it is this issue on which I write.
On February 12, 2013 an article was written. It was entitled ‘How alleged crooks used ATM skimmers to compromise thousands of accounts’. Federal Authorities have charged two men with running an operation to gain control of over 6,000 bank accounts. The banks targeted included: Capital One, J.P. Morgan Chase, among others. These criminals bought card readers and installed them on top of ATMs and doors to ATMs. They also made hidden pinhole cameras to watch people put in their pins. These people supposedly led a group of 9 or more people who put these devices all over cities. These cities included Manhattan, Chicago, and Milwaukee. The people would then use the information to make fake cards, which would be used for false purchases and withdrawals. This operation had “stash locations” to manage the information. One such facility had hundreds of hours of footage showing PINs being input. More than 1,000 blank cards were also found here. Due to the gravity of the crimes these men face around 40 years in jail. Prosecutors are also
Bibliography: Council, ACM. ACM Code of Ethics. 16 10 1992. Web Site. 16 April 2013. Goodin, Dan. "How alleged crooks used ATM skimmers to compromise thousands of accounts." Ars Technica (2013). Internet. Hampton University. Student Technology Guide. n.d. PDF File. 16 April 2013.