"I think this is another great example of the lengths to which criminals will go to perpetrate these schemes, and the amount of homework they do," says Julie McNelley, banking and payments fraud analyst at Aite Group.
Two stories stand out when I look back on the month of May: the POS PIN pad swap scheme that hit Michaels crafts stores in more than 20 states and the insider job at Bank of America that led to $10 million being stolen from some 300 customer accounts.
Technology to fight ATM skimming continues to advance, but so do the threats. Fraudsters have devised new ways to work around - if not defeat - new anti-skimming solutions, say industry experts who point to global ATM fraud trends.
This kind of problem happens to everybody, says Marcus Ranum, CSO of Tenable Network Security, in response to the widely publicized breach at RSA. And maybe hes right. Perhaps this kind of problem does happen to everyone. But should it?
Skimming remains the top threat to ATMs worldwide, but certain regions are also seeing a rise in logical security breaches - malware - according to Chuck Somers, VP of ATM Security and Systems with Diebold, the global ATM supplier.
Banking/security leaders aren't crazy about banking regulators telling them they could have done a better job detecting ACH fraud, and they're eager for more specific guidance on what to do going forward.
Speculation about the pending update to online authentication guidance has been circulating around water coolers for months now. "A [disclosure] like this could make it more challenging for the regulators," says attorney David Navetta.