European ATM skimming jumps 43%

European ATM skimming jumps 43%
Tags: Bank / Credit Union, Bank Security, Central and Eastern Europe, Debit / Credit, EMV, North America, Regulatory Issues, Retail / Off-Premises, Security, Transaction Processing, Trends / Statistics
May 7, 2008

ePaynews: In 2007, ATM-fraud losses rose by 43 percent in Europe to â‚¬439.01 million (U.S. $675 million) from â‚¬306.48 million (U.S. $471.29 million) in 2006, reports the European ATM Security Team. Most of the losses in 2006 and 2007 were due to card-skimming at ATMs, the non-profit organization says. The year-on-year increase in fraud losses was related to a â‚¬173.6 million (U.S. $267 million) increase in cross-border losses in 2007.