Automated Teller Fraud

Overview/Description
 Automated Teller Machines (ATMs) have become an integral service offered to customers by banks. From a convenience standpoint, ATMs allow customers a wide use of the machines, which makes them very popular. As a result, the profit margin for banks increases. With each ATM, a "mini-branch" of a bank is created. Thus, security and fraud prevention is as important with ATMs as with their full-service counterparts.

Target Audience
 Managers, supervisors, and staff responsible for ATMs.

Expected Duration
2.5 hours

Lesson Objectives:

ATM Basics

  • recognize the employee benefits of increased use of Electronic Funds Transfer Systems.
  • match the types of services offered by Electronic Funds Transfer Systems with corresponding examples.
  • identify required security devices banks must install according to the Bank Security Act.
  • categorize security measures as defined by the Bank Protection Act.
  • identify services offered by Automated Teller Machines.
  • identify ATM systems safeguards, in a given scenario.

    • Common ATM Fraud Schemes

  • recognize the value of knowing how different types of criminals operate when committing ATM fraud.
  • sequence the ATM fraud technique of skimming.
  • identify the attributes of deposit fraud.
  • identify the tactics of card withholding schemes.

    • Safeguarding Customers

  • recognize the value of safeguarding customers against ATM fraud.
  • identify personal safety precautions to take against ATM crime.
  • advise customers on personal safety precautions, in a role play situation.
  • provide ATM advice, in a given scenario.
  • identify measures implemented to protect the integrity of bank cards.
  • identify elements of information to be included in written notification of a lost or stolen ATM card.
  • determine customer liability in ATM fraud.

    • Course Number: FS0401