Chip, PIN reduces European ATM fraud

Chip, PIN reduces European ATM fraud
Tags: Associations / Conferences, Bank / Credit Union, Debit / Credit, EMV, Other, Security
June 6, 2006

BROOKINGS, S.D. - Card-skimming cases across Europe dropped 43 percent in 2005 to €44 million (U.S. $56 million), according to the ATM Industry Association.

European crime data shows the drop is linked to the widespread use of chip and PIN across the European Union.

But a new concern for the European market is the significant increase in card-not-present fraud, which has increased 21 percent. Those crimes deal mainly with phone, Internet and mail transactions, where customer data is obtained through phishing scams, computer spyware and counterfeit sites.