Saturday, September 13, 2008

Colossal ATM Fraud Shooks Gulf

The whole of the gulf is shaken after hackers withdraw massive amount of money with counterfeit cards.

The total number of customer accounts that had been hit by the peril is still unclear. Local banks including Citibank, HSBC, Lloyds TSB, National Bank of Abu Dhabi and Emirates NBD have all issue statements separately about the disaster.

Banks urged their customers to change their PINs as a safety step. They are also issuing text messages that the situation is under control. They assured customers that they would pay their losses.

Some banks froze customer accounts who failed to change their PINs causing a serious chaos. The environment is gloomy and customers fear that they would lose their money.

Preliminary investigations suggest that hackers may have got their hands on card details and PINs after rigging cash machines with card skimmers. Other reports raise the dark spectre that bank's internal systems have been compromised.

Related Links:
‘Hacker network’ targets UAE banks in ATM cash fraud
UAE banks step up security after card fraud spree
UAE banking on chip and pin
Banks step up anti-fraud vigil
Readers express shock over bank card fraud
UAE Banks Confirm ATM Fraud, Call for Vigilance

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