95830
  • Posted by: admin
  • On Oct. 14, 2013, 1:31 p.m.

EAST (the European ATM Security Team) has reported a 32% increase in ATM related fraud attacks, despite a 9% fall in card skimming incidents. This overall increase is due to a surge in the number of cash trapping and transaction reversal fraud incidents. 7,885 such incidents were reported, up 77% from the 4,464 incidents reported in H1 2012. While both these attack types can succeed in the EMV environment, as normal transactions take place on EMV cards, criminals get less from them than from high tech skimming attacks.

Overall ATM related fraud losses of €124 million were reported, down 5% from the €131 million reported in H1 2012. Of these losses the majority (€121 million) are still due to card skimming, mainly outside Europe. The USA, the Dominican Republic and Brazil are the top three reported locations for such fraud. Losses due to cash trapping and transaction reversal fraud rose 31% to just under €2 million.

ATM related physical attacks rose 74%, from 194 in H1 2012 to 337; with overall reported losses rising to €10 million. Average cash loss for ram raids, ATM burglary and explosive attacks is €10,517 per incident.

More information can be found at www.european-atm-security.eu

LiquidNexxus continues to bring its ATM Security Training to banks and other ATM industry stakeholders across the globe to help drive awareness and educate about these threats. More information on the course can be found here

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