ATMIA reports that recently there has been a great deal of activity on social media regarding fraud that uses prepaid cards.  A withdrawal is being made, followed by a fraudulent reversal, quickly after the cash is dispensed.

Some of the chat has referred to this as jackpotting.  By definition, jackpotting involves compromise of ATM internals, resulting in a “cash-out” of the ATM.  This is not jackpotting, but rather a potentially new type of Transaction Reversal Fraud (TRF).  The loss for each transaction is limited to the value of the card being used.

Click Read More below to see the complete alert from ATMIA.