Respondents reporting a general increase in ATM crime fell from 51% in 2015 to 42% this year but security remains difficult for credit unions and banks, according to ATM Industry Association.
"This is good news," Mike Lee, CEO of ATMIA, based in Sioux Falls, S.D., and London, said. "However, the wide range of types of attack, as well as the technologies and tools used by fraudsters, remains a daunting challenge, which calls upon us to stay vigilant and cooperate with law enforcement in stamping out crimes targeting ATMs."
The study, conducted by ATM security expert, Douglas Russell, provides an overview of ATM crime facing the industry as well as detailed information needed to take practical steps to deal with the many specific threats covered in the survey.
ATM crime covered in the report includes ATM skimming, PIN compromise, deposit-related fraud, cash trapping, dispenser jackpotting, transaction reversal fraud, card trapping, eavesdropping, card data malware, shimming chip card data, network packet sniffing, as well as other network compromise and remote network compromise for card data.
The association is calling on the industry to make a concerted effort in 2017 to implement international ATM security best practices, to stand together in tackling fraud threats and to reach out to local law enforcement agencies.
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Roy Urrico
Roy W. Urrico specializes in articles about financial technology and services for Credit Union Times, as well as ghostwriting, copywriting, and case studies. Also: writer/editor of a semi-annual newsletter for Association for Financial Technology since 1997 and history projects funded by the U.S Interior Department, National Park Service and Warren County (N.Y.).
