Two Manhattan ATMs filled with fake cash

Two Manhattan ATMs filled with fake cash

A Chase Bank at West 57th Street and Seventh Avenue during a police investigation (Photo: Fred R. Conrad/The New York Times)

The two Manhattan ATMs filled with fake cash was likely the result of an inside job.

The fake bills were reportedly very ameteurish. They were printed on ordinary paper stock and had printing on one side and were blank on the other side.

The fake bills were put in the ATMs to replace the cash that was stolen in an apparent effort to trick the ATMs into thinking they were really full of cash.

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And it worked.

Some customers were dispensed the fake cash when withdrawing money at one of the two affected ATM’s in Manhattan.

The two ATMs that were filled with fake cash were both at Chase bank branches.

One ATM affected was located on W. 57th St. and the other was located on ninth Avenue.

An employee at NCR, at the company that services the ATMs, might be involved.

That employee is now allegedly in the Dominican republic.

Chase issued a statement to the New York Times saying,

“We are working to get all the facts and don’t want to come to any conclusions too early. Obviously, all of our customers who withdrew money will be made whole.”

The two ATMs were short a total of $110,000 according to the New York Times.

One would assume that ATM’s have some type of built in mechanism to determine if “forged” or bad bills have been placed in the machines via a sensor.

Although the currency is checked before it is placed into the ATM’s, it appears there is no mechanism to determine if the machine is outputting legitimate bills.

With the increased technology available, banks are easily able to track someone who deposited counterfeit bills through an ATM, however stuffing an ATM with counterfeit bills might be an area that needs to be tackled in the very near future with improved controls.

Related articles

• Sources: Phony Cash Surfaces In Midtown ATMs, Service Tech Eyed
• Terrible Counterfeit Bills Fooled Chase ATMs

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