The ATM liability shift is on the horizon — Oct. 1 — and most credit unions are deciding on an upgrade schedule for their fleet of ATM machines to comply with EMV standards. 

This presents a looming problem for credit unions, managing their card and ATM migration to EMV compliant equipment. Soon, credit unions will be liable for POS purchases made with counterfeit cards created by tampering with non-EMV compliant ATM machines— a tab that, according to industry estimates, averages $650 per card, and up to $100,000 per incident.

For this reason, industry experts believe that credit union ATMs that aren’t EMV ready by October 2016 will also become more attractive targets, as fraudsters seek easy ways to skim member card information from machines without the higher-security chip technology.

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