Hope the SOB
A Romanian national has admitted he defrauded Bank of America of about $150,000 in a scheme that secretly recorded customer information as it was entered into automatic teller machines. Victor Vasile Constantin, 23, pleaded guilty in US District Court in Connecticut to one count each of bank fraud and aggravated identity theft. …
Hey reech man.
Yoo haf zee muni but vee haf zee peen noomboor yes?
At least this guy wasn't charging them $3 to take their money - BofA charges me $3 to use it's ATMs
kill it with fire!
If only there was some sort of system that American banks could use to stop skimming of magstripes being usefull data.
Maybe this information could be stored on some sort of chip mounted in the card.
...what the banks in the US and Canada are already doing to their customers. He just did it faster.
Though, I am of course not condoning his actions, just pointing out the irony that he probably took less from each person than their bank does each year.
Makes you appreciate British banks (and you thought it wasn't possible) for the fact that in the UK you don't pay to hold the account and you don't pay *anything* to write cheques, make payments, withdraw money, access your account online, use ATMs from yours or other banks (proper banks, not those LINK machines in corner shops) etc etc.
Sad state of affairs when our rubbish banks are excellent when compared to the American ones...!
That would be really nice, then perhaps we could remove the magstripes from our cards completely. Unfortunately the chips aren't much use until then.
Every time I read here about merkin banks' faults, I'm glad I have an account on a Brazilian bank and a prepaid credit card based on UK. It's interesting how here we have time-based tokens and cards with numbered keys for internet banking, at least two passwords for ATM usage, which reads both stripe and chip; corporate accounts need certificate-based authentication, etc.
Besides those security methods, the idiot user always download those dodgy "see our picture album" and install such so bad done malware that just works on IE that kills it when you access the bank website and jumps in front of you asking for ALL those passwords above before sending them via plain text email to the carder.
But it's lusers fault, so who cares. At least it isn't some kind of user/password autentication.