Investigation of bank fraud continues (in MA)

By Aaron Wasserman

Investigations surrounding numerous local reports of bank account and debit card fraud are focusing on several different scenarios, according to police and financial officials.

But officials also said such security breaches are no longer a rarity in the financial world, as greater vigilance by consumers is needed to protect against identity thieves' greater technological sophistication.

Suspects obtained sensitive information in the past several days from hundreds of local debit cards, leading to repeated unauthorized transactions from far-flung international locales in which the suspects stole tens of thousands of dollars in total.

All of the victims will be reimbursed by their bank or credit union, but Chris Goetcheus, spokesperson for the state Office of Consumer Affairs, said this week's reports are the latest in a disheartening string of fraudulent activity.

"What we've seen in the past year and a half is that there's only so much a consumer can do to protect their information," he said.

The state Office of Consumer Affairs and the state Division of Banks became the first Massachusetts agencies Friday to involve themselves in the matter, releasing a joint statement that implores debit card users statewide to check their accounts immediately for fraudulent activity.....for more of the story from Sentinel and Enterprise