DailyDirt: ATMs Are Ripe For Picking...

from the urls-we-dig-up dept

Thieves are getting more clever about stealing money from ATMs. It used to be that people mostly just had to worry about getting robbed while getting cash at an ATM. In 1998, Joseph Zingher, a Chicago businessman, even patented a "reverse PIN system" called SafetyPIN that would alert police when a cardholder at an ATM entered their PIN in reverse. The idea was that if someone was being forced to withdraw money at an ATM, they could silently alert the police with this "panic code." Unfortunately for Zingher, he was never able to convince the banking industry to adopt his SafetyPIN system. Now, people have to worry about ATM card skimming and other high-tech theft methods. Here are a few examples of some recent ATM theft methods. If you'd like to read more awesome and interesting stuff, check out this unrelated (but not entirely random!) Techdirt post via StumbleUpon.


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    Anonymous Coward, May 28th, 2013 @ 5:11pm

    "patented a "reverse PIN system" called SafetyPIN that would alert police when a cardholder at an ATM entered their PIN in reverse."

    A patent was issued for this?
    - checking -
    Walter Hunt is ... aah, wrong safety pin.
    hmmm, sadly yes. (U.S. Patent 5,731,575)
    Another in a long list of bad patents

     

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    Anonymous Coward, May 28th, 2013 @ 5:17pm

    wow.

    http://www.google.com/patents/US5731575

    Now I wonder if I can patent different kinds of duress... and corner the market on torture.

     

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    Anonymous Coward, May 28th, 2013 @ 6:55pm

    my pin's a palindrome

    the cops will come every time i use the atm.

     

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    MAC, May 28th, 2013 @ 6:58pm

    Where to put your money

    Matresses still work...

     

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    Anonymous Coward, May 28th, 2013 @ 9:27pm

    Bitcoin.

     

    reply to this | link to this | view in chronology ]

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    Kevin (profile), May 29th, 2013 @ 7:42am

    The cheap way out

    It is cheaper for banks to pay out stolen money as appose to the cost of implementing full proof security measures.
    The bottom line always wins.

     

    reply to this | link to this | view in chronology ]

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    Joe Zingher, Aug 7th, 2013 @ 6:30am

    ATM Crime Cover up

    Home invasions and carjackings usually precede forced ATM withdrawals. This link is to an article about a very specific crime pattern called the "Express Kidnapping" which is basically an abduction and forced ATM withdrawal. It explains the details of how the crime pattern plays out, how to expose the data and most importantly, the details of how political corruption keeps the pattern from being tracked by the police. If you or someone you know was the victim of such a crime, read this and share it with everyone you know. Then send it to your local newspaper, news station, banker and legislator. Get them to investigate it. This applies worldwide, not just in the US. http://atmsafetypin.wordpress.com/2013/07/19/8/

     

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