Debit card customers robbed - Quad-Cities Online: Employment

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Debit card customers robbed

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Posted: Friday, August 14, 1998 1:00 am

GRANITE CITY, Ill. (AP) -- Electronic thieves have stolen money from the debit card accounts of about 500 Magna Bank customers in Southern Illinois.

Bank officials said the thieves took various amounts from the accounts, up to the daily withdrawal limit of $2,000, before computer checks detected the fraud and measures were taken to stop it. Most of the fraudulent withdrawals were made late last Thursday.

The total amount of money stolen has yet to be determined, and bank officials were trying to learn exactly how the fraud was carried out. No suspects have been identified.

The thieves may have accessed the accounts several ways. Bank officials said the thieves could have fooled an ATM machine with a fake card or used a store machine normally used to charge credit and debit cards.

The victims all had debit cards issued by Visa. Debit cards are different from credit cards in that instead of accumulating debt, the cards take money from the customer's accounts when the card is used at ATM machines or in stores.

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