What is PIN Cashing?
PIN cashing is a type of credit card fraud offense involving the use of stolen credit or debit card information to obtain cash from financial accounts. Pin cashing can occur any time a defendant obtains ATM card or credit account PIN numbers and is able to use that information to illegally withdraw cash from a credit card, bank account or credit line.
Pin cashing, like most types of credit card fraud and ATM fraud, can be prosecuted as a state-level larceny crime but instead often leads to federal charges. Federal authorities may bring a number of different charges for pin cashing, ranging from wire fraud to bank fraud or computer crimes, depending upon the method used to obtain the card information and the methods used to withdraw the cash.
If you are accused of pin cashing, you should consult with an experienced credit card fraud lawyer for help deciding how best to respond to resulting criminal charges.
Pin Cashing Offenses
Pin numbers that are used in pin cashing crimes can be obtained in any number of different ways.skimming devices are often placed in ATMs, gas station credit processing terminals, and other slots where cards are inserted or swiped. When a consumer puts a card into the machine or swipes the card, the card information is recorded.
Email phishing scams can be used to trick consumers into giving up PIN numbers and credit information, or high-tech cameras can be trained on ATM and card machines to identify and record card information and PIN numbers.
Another scam involves inserting a device in an ATM machine that captures a bank card. A co-conspirator to the offense stands by and recommends that the person whose card is captured enter his pin number, sometimes multiple times. A watcher records the pin as it is entered. When the card does not come out of the machine, the consumer may leave with the card inside, leaving the conspirators with both the PIN and the card.
Regardless of the method used to obtain the pin, pin cashing offenses are generally distinguished by the fact that the credit information is used directly to obtain cash out of accounts, rather than to make purchases. Arkady Bukh has a long track record of representing clients accused of serious federal and state crimes in NYC TOP RATED ON: SUPER LAWYERS, AVVO, NATIONAL TRIAL LAWYERS
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Arkady Bukh has a long track record of representing clients accused of serious federal and state crimes in NYC
TOP RATED ON: SUPER LAWYERS, AVVO, NATIONAL TRIAL LAWYERS
The same person who engages in skimming or takes other steps to illegally obtain a PIN number may be the person who also improperly uses the PIN to obtain the cash. In many situations, however, pin cashing offenses involve a broad conspiracy involving multiple parties. One co-conspirator may obtain the PIN numbers while the other uses them to make withdrawals. Co-conspirators can be from different states or even different countries. Under federal conspiracy laws, all parties to the conspiracy can be held responsible for underlying crimes committed as part of the pin cashing scheme.
Penalties for Pin Cashing Offenses
Pin cashing can be a form of bank fraud, as well as a form of identity theft, both of which are federal offenses under Code Section 1344 and Code Section 1028 respectively. New York State also criminalizes financial theft and identity theft crimes.
Depending upon the process used to obtain the PIN numbers and the way in which those PIN numbers were used to obtain cash, other possible federal charges include wire fraud, money laundering, computer fraud, and fraud involving access devices.
When an indictment is handed down by a federal grand jury, it is not uncommon for a defendant to face multiple counts of the same offense as well as charges for several different federal crimes. Just bank fraud or wire fraud alone can lead to 30 years imprisonment when a goal of the fraud scheme involves obtaining funds or assets from a financial institution.
Getting Help with Pin Cashing Offenses
Anyone charged with a pin cashing offense needs to understand his legal rights and create a plan for trying to secure a not guilty verdict or negotiate a plea agreement that doesn’t lead to decades of incarceration.
Call a New York City pin cashing lawyer today for help responding to charges.