ATM Fraud

Expert rating 9.4 Public rating 9.5 Voting is completed

Some experts say banks and retailers may use the capabilities of smartphones to verify transactions. This will increase ATM security but will also increase queues.

Some banks inform you by SMS that a cash withdrawal was made fom your account. In case the withdrawal was unauthorised, you can call the bank and request them to disable ATM withdrawal. This is good, but not good enough.

Description of the prposed solution. ...

As the idea arouse great interest of prospective business partners who suggest to patent and commercialize it, the desciption was made confidential. Sorry for the inconvenience caused, but the business in this particular case comes first.

Expert rating 7 Public rating 7 Voting is completed

Well, this solution is expensive and not so convenient's as Vadim's idea as using screen-touch fingertip control would require upgrading of ATM machines. Besides, nobody else but you can withdraw the money, i.e. you cannot transfer the card to your relatives so they could make a withdrawal. Yet, the solution is effective.