phantom withdrawals

The removal of funds from bank accounts through automated teller machines (ATMs) by unauthorized means and without the knowledge or consent or the account holder. Banks have maintained that such withdrawals are not possible without the collusion, intended or unintended, of account holders by divulging their personal identification numbers (PINs) to a third party or lending their card to someone else.

Accounting dictionary. 2014.

Look at other dictionaries:

  • phantom withdrawals — The removal of funds from bank accounts through automated teller machines (ATMs) by unauthorized means and without the knowledge or consent of the account holder. Banks have generally maintained that such withdrawals are not possible so long as… …   Big dictionary of business and management

  • Phantom withdrawal — A phantom withdrawal is a cash withdrawal from an automatic teller machine where money has been withdrawn, and neither the customer nor the bank admit liability.Banks often claim that the withdrawals are the result of fraud by customers. [… …   Wikipedia

  • phantom — [[t]fæ̱ntəm[/t]] phantoms 1) N COUNT A phantom is a ghost. [mainly LITERARY] They vanished down the stairs like two phantoms... The phantom used to appear unexpectedly, but mostly during the winter. Syn: ghost 2) ADJ: ADJ n You use phantom to… …   English dictionary

  • Bryan Clough — (born 1932, Oldham, Lancashire [Index of Births, Marriages and Deaths in England and Wales, 1837 1983] ) is an English writer.Clough has written several books and articles dealing with phreakers, hackers and computer virus writers; credit card… …   Wikipedia

  • ЛИЧНЫЙ ИДЕНТИФИКАЦИОННЫЙ НОМЕР — (personal identificaion number, PIN) Номер, присвоенный конкретному владельцу денежной карточки (cash card), кредитной карточки (credit card) или многоцелевой карточки (multifunctional card) и используемый для его идентификации терминалами… …   Финансовый словарь

  • ФАНТОМНЫЕ ИЗЪЯТИЯ — (phantom withdrawals) Изъятия средств с банковских счетов через банкоматы (automated teller machines, ATMs) в результате неправомочных действий и без уведомления или получения согласия владельца счета. Банки считают, что подобные изъятия средств… …   Финансовый словарь

  • personal identification number — PIN A number memorized by the holder of a cash card, credit card, or multifunctional card and used in automated teller machines and electronic funds transfer at point of sale to identify the card owner. The number is given to the cardholder in… …   Accounting dictionary

  • personal identification number — PIN A number memorized by the holder of a cash card, credit card, or multifunctional card and used in automated teller machines and electronic funds transfer at point of sale to identify the card owner. The number is given to the cardholder in… …   Big dictionary of business and management

  • личный идентификационный номер — Номер, присвоенный конкретному владельцу денежной карточки (cash card), кредитной карточки (credit card) или многоцелевой карточки (multifunctional card) и используемый для его идентификации терминалами банкоматов (automated teller machines) и… …   Справочник технического переводчика

  • 2008 in Iraq — ««« 2007 2006 2005 2008 in Iraq »»» 2009 2010 2011 …   Wikipedia

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