A Rundown of ATM Fraud Threats
According to the last survey conducted by the European ATM Security team, card skimming is still the most prevalent crime in 27 European countries. Action has been taken, and 61% of European countries have reported a decrease in card skimming because of the implementation of Europay (EMV technology that’s embedded in ATMs requiring two-factor authentication) drastically reducing the risk of stolen credentials.)
At the same time however, we have noted an increase in cash trapping attacks. This is where cash dispensing slots are targeted by fraudsters who replace these ATM’s components with fake devices.