http://www.nydailynews.com/money/2008/01/03/2008-01-03_citibank_limits_atm_cash_in_city-2.html
Citibank limits ATM cash in city
BY KERRY BURKE and LARRY McSHANE
DAILY NEWS STAFF WRITERS
Thursday, January 3rd 2008, 4:00 AM
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A jump in ATM fraud led Citibank to slash the maximum amount of cash available to customers from their accounts – a security move greeted warily Wednesday by its patrons.
The new cap on cash kicked out by the company’s ATMs began in mid-December after what Citibank called “isolated fraudulent activity” around the city.
*** end quote ***
Hmm, interesting. With the subprime mortgage mess on everyone’s mind, might an ATM be a new way that there’s a “run on the bank”?
Now we know that the Federal Reserve Bank (which is neither “federal”, a “bank”, or a “reserve” of anything but assurances) can supply all the little green pieces of paper one could ever want. (Remember I think it was Mises who said “only a government can take something valuable like paper and make it worthless by printing on it”.) That guarantee didn’t stop half of NYC’s Chinatown from lining up outside one their banks recently when a bank officer took off with some dough. After all those were just illiterate (in English?) Chinese (illegal?) immigrants who didn’t understand that things are different in the “Pepuls Paradise of the USA”. (Are they really?)
Seriously, while it may be fraud prevention, it certainly doesn’t inspire confidence when this is how you find out about it. What did they lose? How did they lose it? (Personally, some IT guy mailing a file of name, rank, serial number, ssn, card number, mothersmaidenname, and pin to a backup location is not outside the realm of possibility. Like the bloke in England did.)
>change password
So why is the cited depositor being told to change their password?
Sigh, so many question. So few answers.
Let me google my pin, and see if it’s up for sale on a pirate board somewhere!
fjohn
p.s., Luckily I have no accounts with Citibank. Unless you count that one that the nice Nigerian fellow was telling me all about.
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Reinke Faces Life 
how can we stop frauds on atm machines?, I have to deal with this every day.
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