Lebanese Loop and Protection Techniques against this Type of Fraud Cover Image

Lebanese Loop and Protection Techniques against this Type of Fraud
Lebanese Loop and Protection Techniques against this Type of Fraud

Author(s): Gabriela Oškrdalová
Subject(s): Business Economy / Management, Security and defense, ICT Information and Communications Technologies
Published by: Masarykova univerzita
Keywords: e-banking; security; risk; fraud; Lebanese loop;
Summary/Abstract: Lebanese loop is one of the most frequent types of frauds relating to cash withdrawals from ATMs when an ATM is modificated by a defrauder by installing special additional equipment to gain user's payment card and then payment card user's trust and ignorance are exploited by the defrauder to gain the PIN code. If the defrauder has user's payment card and knows the right PIN code, he/she can withdraw cash, pay for goods and services at shops and e-shops etc. Though currently frauds using the principle of Lebanese loop do not belong to common types of frauds in the Czech Republic, this risk should not be underestimated. Recommendations to reduce Lebanese loop risk are variable.

  • Page Range: 443-450
  • Page Count: 8
  • Publication Year: 2015
  • Language: English