German IT security expert robs ATMs

Tuesday, 15 October 2002, 11:16 AM EST

A German boffin who invented a security system for automatic teller machines (ATMs) has been sentenced to nearly five years in prison for faking credit cards and using them to withdraw cash from the machines.

The 71-year-old inventor, nicknamed 'The Professor', invented a security system for ATMs but found that banks were not interested because it was too expensive.

According to the prosecution The Professor then decided to turn his skills against the banks, coming up with the idea of faking the cards and using them to withdraw cash from the machines.

[ Read more ]




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