cash withdrawal

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.

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.

International Banking & Financial Services Technology Exhibition (IBEX 2010) will be conducted from November 9th through 11th at Abu Dhabi National Exhibition Center, Abu Dhabi, UAE. The exhibition is aimed to provide opportunity to introduce products and offers by the financial and banking sector, financial services and brokerage sectors in addition to up‐to‐date service techniques in the field of modern technology.

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.

 VerifySmart(TM) Corp.: ("VerifySmart" or the "Company"), a global leader in secure and fraud free credit and debit payment processing services, is pleased to announce the successful implementation of its patent-pending PIN authentication system, VerifyNGo(TM), for immediate worldwide use with its VeriSmart(TM) Cards. VerifySmart customers in Europe, Asia and North America can now instantly and securely disburse funds through VeriSmart Visa cards using their own personal PIN to authenticate transfers.

 INTERAC, Canada’s national debit network, and China Unionpay, China’s national bank card payment network, have announced the launch of a new service that will give China Unionpay cardholders traveling in Canada the ability to withdraw cash from ATMs of participating acquirers in Canada. 

Australian police is seeking for the thieves that are suspected of stealing over $500,000 from ANZ customer bank accounts. The criminals withdrew money using details obtained from a skimming device attached to a cash machine in Melbourne. As police said, an international syndicate may be responsible and have already released pictures of two men that might help with the investigation.