ATM fraud: How to withdraw cash, but keep bank balance intact

[srican69]

WARNING : PLEASE DO NOT TRY THIS - THIS IS A CRIMINAL OFFENSE



http://timesofindia.indiatimes.com/city/bangalore/ATM-fraud-How-to-withdraw-cash-but-keep-bank-balance-intact/articleshow/45060564.cms

The modus operandi used by the fraudsters required scrupulous precision during execution but was deviously simple in nature. Known as the 'exit shutter manipulation fraud', the accused would boldly enter an ATM kiosk and insert their card.

Once the PIN and requested amount had been keyed in, the machine would authenticate the card and account, and the process of cash dispensation would begin.



Now comes the tricky part: in order to carry out the fraud, the accused would simply place their hand against the exit shutter — where the cash is normally dispensed from for a few seconds, triggering a message that there was a fault with the shutter, to be passed on to the ATM switch inside.

This would cause the machine to automatically reverse the transaction in the switch, i.e. the amount requested by the accused, which had been debited from their account, would immediately be reversed credited back to the account.

However, when the exit shutter was released after a few seconds, the ATM would dispense the amount previously requested since it was manually halted during the process of dispensation.

Given that the physical cash would be dispensed without any amount being debited from the accused's account, their account balance would essentially never decrease, thereby causing a loss to the bank concerned instead.