Card-skimming at ATMs cost Irish banks $4 million in '05

Card-skimming at ATMs cost Irish banks $4 million in '05
Tags: Bank / Credit Union, Debit / Credit, EMV, Other, Retail / Off-Premises, Security, Trends / Statistics
December 12, 2005

Irish Examiner: Criminal gangs have used card-skimming devices to steal an estimated €3.5m (U.S. $4.17 million) from banks in Ireland this year, according to information released by the Garda Bureau of Fraud Investigation. More than 150 skimming devices have been placed on ATMs across the country, and the average take with each has been about €50,000 (U.S. $59,600). The number of incidents has risen from one or two a month in 2004 to one or two a week in early 2005 to two or three incidents per day in late 2005. Irish banks have spent €100 million (U.S. $119.3 million) on chip-and-PIN system upgrades, which, when complete, is expected to significantly reduce card-skimming incidents.

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