Interactive Teller Machine Interactive Teller Machines are ripe for a wave of fraud, according to a new study. (Source: ImYanis/Shutterstock)

Interactive teller machines, seen as a solution for financial institutions looking to expand banking hours and their geographical footprint, are increasingly a fraud target as new U.S. ITMs roll out.

The High Point, N.C-based Advanced Fraud Solutions, which provides deposit fraud detection software, in a new report, “Guide to Securing ITMs from Fraudulent Deposits,” detailed ITM benefits for both financial institutions and consumers; their risks and targeting by fraudulent actors; and best practices for credit unions and banks toward ITM deposit security.

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Roy Urrico

Roy W. Urrico specializes in articles about financial technology and services for Credit Union Times, as well as ghostwriting, copywriting, and case studies. Also: writer/editor of a semi-annual newsletter for Association for Financial Technology since 1997 and history projects funded by the U.S Interior Department, National Park Service and Warren County (N.Y.).

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