May 11, 2005

KIosk and ATM Fraud

Greg Swistak, Executive Director of the Association (KOA), a trade group representing the interests of self-service providers, said the problem is not with the machines, but rather with a few of the people who sell them and create industry-wide image problems.

"Maybe our business was really going mainstream and was being accepted by the masses." He cited actions against several other companies, including Nationwide Cyber Systems (now operating as Transnet Wireless Corp.), a Canadian company called Teleking Communications Corp. and Debit Corp. of America Inc.

In another case, the Securities and Exchange Commission filed an emergency action in Texas in July 2004 to freeze the assets of Cash Link Systems Inc. and its principal Alan Levine, charging securities fraud and alleging that the company had raised more than $10 million from 680 investors nationwide.

Green Sheet article

Posted by keefner at May 11, 2005 11:45 PM