ATM Fraud on the Rise

As a financial partner committed to the defense of your private information, we wanted to make you aware that we are taking extra precautions to mitigate threats of a global Automated Teller Machine (ATM) cash-out scheme.

What could these attacks look like? Cybercriminals hack a bank by phishing and use cloned cards at cash machines around the world to withdraw millions of dollars in just a few hours. Just prior to executing on ATM cash-outs, the fraudsters will remove fraud controls at the bank, such as maximum ATM withdrawal amounts and limits on the number of daily ATM transactions, using the information and credentials they gained through phishing and social engineering. The perpetrators also alter account balances and security measures to make an unlimited amount of money available at the time of the transactions, allowing for large amounts of cash to be quickly removed from the ATM.

Fremont Bank is taking every step to protect your information and there are a few things you can do to protect yourself:
  • Monitor your accounts with Online Banking and Mobile Banking.
  • Review your account activity carefully and contact us if you notice anything unusual.
  • If you have questions concerning your account or want to report possible fraudulent activity, please call our Client Contact Center at 800-359-2265, Monday thru Friday from 8:00am to 7:00pm, Saturday and Sunday 8:30am to 5:00pm.

Posted by: Mark Rhodes-Ousley, Chief Information Security Officer
8/16/2018 7:28:39 AM | with 0 comments
Filed under: Banking, card, Debit Card, Fraud Prevention, News, Security Alert
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