Anyone seen any more on this? Not sure if Monzo will be affected, but I hope not!
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Is this like one of those end of the world predictions?
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That article makes it sound so easy. Just compromise an entire ATM network, print duplicate cards and cash out millions. In a day.
If you had that level of access to a bank, why much around with cards? Just transfer the cash to an offshore account and make off with the money.
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When the government agencies say it is going to happen, you can bet your last dollar that it won’t!
It’s easier than it looks.
Transferring money electronically would require a recipient account - once the crime is discovered the recipient bank would likely give back at least part of the money, and overall it leaves way more trails.
On this kind of scale, cash it much easier to launder and hide.