ATM

Wells Fargo is encouraging its student customers to take care of the security of their personal and financial information to minimize the risks of fraud and identity theft.

According to the stats by Javelin Strategy & Research (2010) people aged 18 to 24 detect fraud in twice as many days as other age groups, which makes them fraud victims for longer periods.

Payment Alliance International (PAI) has partnered with MagTek to implement MagTek’s Qwick Codes across PAI’s nationwide network of over 50,000 ATM machines.

MoneyGram International has partnered with Visa to launch MoneyGram's first cash-to-Visa account program for remittances from the United States to Mexico.

Under the program consumers will be able to use any of the 35,000 MoneyGram locations in the U.S. to quickly and reliably send funds directly to eligible Visa accounts in Mexico. Recipients in Mexico receive the funds directly to their Visa credit, debit, or prepaid accounts. Then they can withdraw the cash from Visa's global network of millions of merchant acceptance locations and ATMs.

MasterCard Worldwide launched a new application for Android based smartphones dubbed as MasterCard ATM Hunter. The application is developed to help users quickly and easily find the nearest ATM anywhere in the world.

Brazilian bank Itau Unibanco entered into a cooperation agreement with China UnionPay Co Ltd (CUP). Under this partnership CUP clients with their 2.2 billion credit and debit cards will be able to withdraw at over 30,000 Itau ATMs 24 hours a day, 7 days a week.

Shanghai-based CUP has over 400 associated institutions, domestic and foreign. It is present in over 90 countries.

As it became known, Saturday, a systems glitch injured Barclays’ customers. So the majority of bank’s clients were left unable to access their accounts online or use cash machines. 

The Barclays’ computer systems failed early on Saturday hitting Internet and telephone banking customers as well as ATMs. However, the bank representatives claim point of sale transactions were not affected.

At the annual Black Hat conference a security expert showed how to break into ATMs causing the machines to withdraw all the cash they have. Barnaby Jack, director of research at security consulting firm IOActive Labs, spent over a year learning to break into stand-alone automated teller machines found at gas stations, bars and retail establishments.

"I hope to change the way people look at devices that from the outside are seemingly impenetrable," Jack told a standing-room-only crowd before launching the demonstration using equipment he purchased over the Internet.

Bank of Ireland is to refund a total of €3 million to 43,000 ATM users after glitch. 

The ATM glitch was caused by a problem with anti-fraud systems saw money incorrectly debited from their accounts.

The bank says it apologized for the error and has informed the country's Financial Regulator.

 Visa Europe has announced introduction of a new credit card completed with a keypad and digital number display. The new card called Visa CodeSure is of the same size as a commonly-used credit card but it has a small 12-buttonkeyboard and screen necessary to generate a constantly changing series of unique security passwords. And of course there is a small battery designed to power the security system for 3 years.

New technology is helping scammers steal even more of account information at ATMs, as some cyber security expert detected. Moreover, victims don't know they have a problem until they see their statements.

In a traditional skimming scam, crimes place a card-skimming device into the card insertion slot. The skimmer can steal account information stored on the magnetic strip on back of the card when it is dipped into the machine.

A new service that delivers account updates on demand is now available to Citibank and credit card customers in the US under the name Citi Text Banking.

Wells Fargo has introduced its new ATM e-receipt service to its all online banking consumers. The new option allows customers to decide on whether they want to have an ATM receipt sent an Online Banking inbox or to the specified email address. Wells Fargo is the first and only bank to launch the kind of service.

All Wells Fargo customers can use the service while Wachovia consumers will be able to access it soon after they convert to Wells Fargo. The conversion is scheduled to take place through 2011.

Rodney Reed Caverly, a Bank of America computer specialist, will plead guilty next week to a computer fraud charge.

Caverly had worked in Bank of America's IT department where he designed and maintained computer systems, including those used by the ATMs. The alleged scam ran between March 2009 and October 2009.

According to the research from Javelin Strategy & Research, that collected data from 3294 Americans online and 4874 by phone, banks need to consolidate their ATMs security as about 10% of US fraud victims have their details used to make withdrawals at ATMs.

About 25% of these victims have already abandoned their financial institution, as the research found.

A new study conducted by Retail Banking Research (RBR) China has recorded 208,000 ATMs by the end of 2009. Above the previous year the number increased by a record 42,000 units, beating by some margin the 36,000 increase in 2008. The growth occurred in spite of the slowdown in the global and national economy.