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ATM crime makes fraudsters $2.75bn

More than three million US consumers fell victim to bank fraud in the past year, with some $2.75bn being lost through ATMs. Many of their account numbers and PINs were gained over the internet, using methods including phishing and keylogging, according to research firm Gartner. It blamed lax security by banks for the problem - suggesting a secondary security measure, such as another code number included on bank card's magnetic strips, to combat the problem.

Research director Avivah Litan said: "ATMs are the pot of gold for criminals. Their ultimate goal is to get cash." The firm estimates $2.75bn was taken through debit card fraudover the past 12 months, with another $1.9bn going missing through checking account fraud.

Of the 5,000 Americans who were questioned for the survey, the majority of those who knew how someone else had got ahold of their account details blamed the internet.

View: TechWeb coverage

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