Threat of the Week: ATM Fraud on the Rise
What’s old is new again, sighed John Buzzard, an executive with FICO’s Card Alert Service. The occasion was the release of a new FICO report that tracks card fraud. The big trend: fraud is up, said Buzzard, and old-fashioned skimming at bank and credit union ATMs is leading the way.
“Criminals are attacking financial institution-owned ATMs,” said Buzzard, referring to the use of skimmers affixed to ATMs to gather magnetic stripe data. Usually there’s an associated pinhole camera to get PINs.