Thursday, April 17, 2014

Be wary of ATM fraud

By Maura Possley, Illinois Attorney General's office
April 15, 2014 2 p.m.

Attorney General Lisa Madigan today alerted Illinois residents to an increased risk of unauthorized withdrawals on their accounts after banking regulators reported that hackers are circumventing controls on automated teller machines (ATMs) to make nearly unlimited withdrawals before banks can detect the fraud.

In recognition of Money Smart Week, Madigan is urging Illinois residents to be on the lookout for unauthorized withdrawals from their accounts in the wake of the disclosure, amid a series of massive data breaches at major U.S. companies including Target and Neiman Marcus.

“This recent wave of cyber attacks reinforces how important it is to monitor your accounts for unauthorized activity because it’s not a matter of if but when your financial accounts will be targeted by a criminal,” Madigan said.