News

TMD sets up shop in Latin America

The anti-skimming specialist says its new office in Mexico City will allow the company to work more closely with ATM providers in the region.

July 15, 2015

TMD Security, a provider of anti-skimming solutions for ATMs and self-service terminals, has established a new regional office — TMD Latin America, based in Mexico City, the company announced in a press release.

The new office brings together the global anti-skimming expertise of TMD with the market knowledge of local ATM specialists who have longstanding experience of the banking industry in Latin America, TMD said. The new company employs more than 200 skilled ATM service engineers in the region.

"Cash losses related to an average ATM skimming attack in Europe have risen 18 percent in the past year to over $61,000 according to EAST, despite all ATMs being EMV compliant," said TMD Security CEO Cees Heuker of Hoek. "Criminals are always looking for the next weakest link and Latin America is a target for fraud. While payment cards retain the magnetic stripe, they are easy to skim. Based on our international track record of card fraud prevention, we are now committed to helping our banking partners in Latin America defend their ATMs with the best defenses available."

TMD Latin America Sales Manager Gerardo Barocio Landa said that banks in Latin America are making it a priority to protect cardholders from fraud.

"We are excited about the opportunity to bring TMD solutions closer to banks in Latin America. TMD's anti-skimming solutions are tested and proven by the world's largest banks and ATM deployers. ... We believe that TMD Latin America will deliver the security solutions our banking partners need so that they can successfully provide the best customer service."