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WebHostingGuy's Journal: Save two dollars here, lose a million later

Journal by WebHostingGuy

As reported by MSNBC banks are losing millions because they are not performing an important security check. This flaw lets phishers print their own ATM cards and withdraw cash. Gartner Inc. reports one bank lost one million dollars last month due to this fraud. I wonder how much they actually saved by not implementing this check when the programs and ATMs were rolled out?

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Save two dollars here, lose a million later

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% A bank is a place where they lend you an umbrella in fair weather and ask for it back the when it begins to rain. -- Robert Frost

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