Financial fraud experts say banking institutions are not doing enough to ensure payments processors and third-party vendors are adequately protecting cardholder data to thwart cash-out schemes and other fraud. Banks typically absorb most of the losses, in spite of these contracts, when processors are breached. The Federal Financial Institutions Examination Council has repeatedly reminded banks that they are responsible for regularly reviewing and managing the risk profiles of the vendors with which they do business. The banks are ultimately to blame when schemes occur, experts say.”]
Source: https://www.cuinfosecurity.com/banks-pay-for-atm-cash-outs-a-5828