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London bank invests millions to fight skimming at ATMs

August 30, 2006

Silicon.com - Sainsbury's Bank PLC is investing £3.5 million (U.S. $6.7 million) to protect its 885 ATMs against skimming attacks. The money will be spent on installing CCTV and introducing anti-skimming devices. The bank's head of channels, Kevin Barrett, said ATM fraud is a "growing problem" that the bank is taking "very seriously." Research from APACS found that cash-machine fraud during the first three months of 2006 totaled £21.4 million (U.S. $40.8 million) -an increase of 54 percent from 2005 figures. ATM skimming accounts for most cash-machine fraud in the United Kingdom, according to APACS. Because cards still carry the magnetic strip, chip and PIN cards also are susceptible to skimming.