LONDON, CAPE TOWN, South Africa and BROOKINGS, S.D. - The Global ATM Security Alliance, founded by the ATM Industry Association, announced in a news release the establishment of a new forum to focus on Multi-Channel Security for the self-service industry.
The Forum's founding members cover geographical marketplaces from China to Canada and include Fair Isaac, ACI Worldwide, Shell International, GRG Yuntong (Guangzhou) Banking Equipment Co. in China, South African Fraud Prevention Services, Bantek, DynTek Canada, Diebold, South Africa's ATM network Bankserv, K3 DES and the ATM Industry Association.
The Multichannel Security Forum's threefold purpose is expected to be to create intelligence for tracking migration patterns across channels, develop vertically integrated strategies for countering cross-channel fraud migration and reach cross-business consensus on the security of all card-accepting devices.
An example of cross-channel fraud: One of the fastest-growing loss categories in 2005 for ATM fraud has been counterfeit phishing attacks, with a proliferation of e-mail-borne scams.
"Since crime migrates geographically, vertically (across the business lifecycle) and horizontally, that is, across delivery channels, comprehensive intelligence is needed to track these migration patterns," said Mike Lee, chief executive of ATMIA and founder of GASA.
GASA launched a Web-based global crime data system called Cognito, which can be used to store and process crime data on both ATMs and POS devices.
"Cognito is ready to be extended to cover Internet banking and other channels being affected by cross-channel fraud and fraud migration," Lee added.
