Banks Beef Up Ways to Prevent ATM Scams

THE JOURNAL RECORD, May 21, 1993 | Go to article overview

Banks Beef Up Ways to Prevent ATM Scams


HARTFORD, Conn. _ A gang of high-tech thieves who hooked up a bogus automatic teller machine and hauled in a bundle sent the banking industry scrambling for ways to prevent illegal use of the nation's 83,000 ATMs. Adding customer fingerprints, watermarks or holograms to ATM cards is being considered by the Electronic Funds Transfer Association, which represents ATM companies, said Margaret Steeves of the Yankee 24 ATM network. The network has 3,700 ATMs across New England, New York and New Jersey. Tyson to Build Hatchery in Missouri

MONETT, Mo. _ Tyson Foods Inc. will spend up to $5 million to build a hatchery in Monett to produce 1.3 million chicks a week. Carrol Snyder, complex manager of Tyson's Monett operations, said construction will begin as soon as possible to enable eggs to be set by Feb. 1. The hatchery in southwest Missouri is part of Tyson's expansion in Missouri and its home base in Arkansas, Snyder said. The Springdale, Ark.-based company is the nation's largest producer of poultry. Chicks for Tyson's growers in Monett now come from a leased hatchery in northwest Arkansas, and others are purchased from other producers, he said. Men's Wearhouse Reports 39.2% Hike in Income

FREMONT, Calif. _ A 39.2 percent increase in net income to $905,000, or 12 cents per share, was reported Thursday for the first fiscal quarter ended May 1 by The Men's Wearhouse, based in Fremont. Net income for the quarter was up from $650,000, or 10 cents per share, for the first quarter of the previous fiscal year. Revenues for the quarter were $44 million, a 33.9 percent increase from $32.9 million.

The Men's Wearhouse, which has a store in Oklahoma City at Penn Square Mall, operated 152 stores in 19 states at May 1, compared with 121 stores in 12 states a year earlier. The company said it plans to open 10 new stores during the second fiscal quarter. …

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Banks Beef Up Ways to Prevent ATM Scams
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