ATM FRAUD USING AN MP3 PLAYER

In the past few days in the UK a new ATM connectivity scam has been uncovered. The scam involves placing an MP3 recorder between the ATM machine and the telephone line linking the ATM to the home bank. The MP3 recorded the data carried down the line from the ATM. This data was then transferred to a PC and subsequently decoded by a fraudster with previous experience of cards, using software from Eastern Europe.

An estimated £200,000 ( $360,000) of goods were obtained using counterfeit cards produced from the de-encrypted information. Fortuitously, the gang using the cards in the UK was arrested as a result of a traffic violation before further fraud could be committed.