Global survey weighs ATM security threats

 
Dec. 7, 2012

The ATM Industry Association has released its second 2012 ATM global fraud survey. And — no surprise — skimming remains the biggest threat to ATM security.

The ATMIA received responses from 225 survey participants — more than double the number who took part in the first survey, said ATMIA CEO Mike Lee. The new survey offered up "some telling results," he said.

For instance, cash and card trapping are increasing threats in Europe, where the use of EMV smart chip-enabled cards has foiled ATM fraudsters. As yet, this threat has not migrated to North America, the study found. In the U.S., where magnetic stripe cards are still the norm, criminals find card skimming far more profitable than cash trapping.

Gas and explosive attacks were the third-ranked ATM security threat, followed by ATM burglary and cyber attacks, the survey revealed.

More than half of respondents (54 percent) said they had bolstered their ATM security since the first-quarter fraud survey. During the same period, 53 percent of respondents said they had experienced increased attacks. Of those who took additional security measures increased their investment "significantly."

"The security of ATMs is undoubtedly world-class, but we need to stay vigilant to ward off new and emerging threats," Lee said. "One of those we will look at in the first quarter of 2013 is mobile apps fraud."  

Best practices for cash trapping prevention will be forthcoming from the ATMIA within weeks, the organization said in a news release.

For more on this topic, visit the trends/statistics research center.


Topics: Security , Skimming / Fraud , Trends / Statistics

Companies: ATM Industry Association (ATMIA)


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