Criminals Target Electronic Banking

Indeed, some ATMs have been rigged with special electronic readers, to pilfer consumers' bank card information. Even in a routine cash withdrawal, data can be stolen. The devices attached to such "fake ATMs," as Hillbrand calls them, "look very real — they are very professional-looking." Law enforcement officials are concerned that this may especially be true of ATMs with low security in convenience stores, gas stations or other businesses.

To keep your account out of trouble on the ATM front, therefore, consumer advocates suggest more common-sense measures: Monitor your bank account, call your bank immediately if you ever lose your card in an ATM and never accept "help" from bystanders if you encounter a malfunctioning automated teller.

In exchange for the increased convenience of electronic banking, it seems, consumers must have a greater awareness of the problems they may encounter. Still, as Hillebrand said, "The individual consumer can't do all the protection that's necessary."

To that end, some financial institutions are looking at new forms of encryption for ATMs and bankcards. Until the next generation of devices arrives, however, consumers wanting old-fashioned banking security would do well to be aware of the new tactics of bank robbers.