New Threat Leads International ATM Fraud Survey
A method of stealing both cards and cash from ATM machines came in second in a list of fraud concerns among ATM deployers around the world, according to the second annual ATM fraud survey conducted by the ATM Industry Association.
The ATMIA is a trade association that claims 3,700 members in 60 countries.
“Two hundred twenty five respondents completed the 2nd survey, more than double the number for the first one,” said Mike Lee, CEO of ATMIA, “and there were some telling results.”
ATMIA reported skimming, schemes which capture card and PIN numbers through a combination of hidden card readers and cameras remains as the biggest global threat to ATM security identified by the survey, followed by the rising threat of cash and card trapping which is primarily a European problem which has not migrated to North America as yet.
Cash or card traps are devices which prevent the card from being discharged by the ATM after the transaction or which skim part of the cash being dispensed.
Cash or card traps are generally used on weekends or evenings when cardholders would not be able to contact the firm which placed the ATM about their ATM which, it appears to the cardholder, has stopped working.
Gas and explosive attacks were seen by the respondents as the third biggest threat, followed by ATM burglary and then cyber attacks.
About 54% of respondents have invested more in ATM security technology and security solutions since the first survey in the 2Q of 2012, which closely mirrors the 53% who saw increases in attacks in the same period. Of those, about 17% said they increased their investment significantly.
ATMIA said it will release best practices for preventing cash trapping within weeks.
“The security of ATMs is undoubtedly world-class – but we need to stay vigilant to ward off new and emerging threats,” Lee concluded. “One of those we will look at in the first quarter of 2013 is mobile apps fraud.”