STRATEGIC PARTNERS
June 16, 2003
HERNDON, VA. - The Electronic Funds Transfer Association has released specific recommendations for improving the security of ATM services. The final document is a product of the ATM Integrity Task Force, a coalition of ATM-related businesses, government and the ATM Industry Association.
The report recommended that ATM manufacturers standardize their adherence to "existing international specifications for encryption and key management," as well as identify ATMs capable of upgrades to ATM network-mandated standards. It said banks and others who acquire ATM transactions for processing conduct rigorous due diligence on third-party service providers and closely monitor their operations.
EFTA executive director Kurt Helwig said in a news release that many companies are already employing the recommendations as standard practice. "This report will provide a guide to ensuring the continued confidence of American consumers in ATM services and systems," he said.
He said the Task Force may issue further recommendations at some time in the future.
