The phantasm of ATM withdrawal
School of Computer and Information Science, Edith Cowan University
Faculty of Computing, Health and Science
School of Computing, Health and Science
Despite the stringent legislation and increased enforcement aimed at combating financial crime, fraud using cash machines remains a public concern. The problem of ATM fraud is happening on a global scale and the ramifications have been felt in Australia. This paper highlights the stratagems of financial crime, in particular of ATM fraud. The abuse of ATMs with intelligent methods used by perpetrators will be discussed. At the same time, the paper will present some global cases of ATM fraud. Finally, this paper will illustrate countermeasures and security methods, such as biometrics and premises protections of banks, financial institutions and customers, to mitigate crimes.