How ATM Fraud Nearly Brought Down British Banking

Very interesting story about phantom ATM withdrawals could be read here. It says:

This is the story of how the UK banking system could have collapsed in the early 1990s, but for the forbearance of a junior barrister who also happened to be an expert in computer law – and who discovered that at that time the computing department of one of the banks issuing ATM cards had “gone rogue”, cracking PINs and taking money from customers’ accounts with abandon…

There is also interesting Ross Anderson’s page on phantom withdrawals.

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