The Global ATM Security Alliance (GASA) and the ATM Industry Association (ATMIA) have collaborated on the publication announced today of “Best Practices for Protecting the Customer’s Personal Bank Account and Identity”. This international manual brings together for the first time best practices for both multichannel security for financial services and the prevention of identity theft. The publication represents the minimum security guidelines for fraud management within the retail banking environment.

 “The common thread in these best practices, for key delivery channels from ATMs to internet banking, and for reducing the threat of identity theft, is protecting the customer,” said Mike Lee, CEO of ATMIA and founder of GASA. “It is the first time such wide-ranging security best practices have been brought together in one place, linking protections for both personal bank accounts and personal identity of customers.”

The idea for the best practices arose when cross-channel fraud increased markedly last year, with compromises at one delivery channel, whether on POS devices or during internet banking, leading to fraud committed at, say, the ATM. In 2005, for example, well over 50% of ATM fraud in the USA originated in POS compromises. These days, banks need a sustained and comprehensive anti-fraud strategy and system in place to prevent becoming a target for cross-channel fraudsters.

The topics covered by the unique new manual include: integrating a security strategy into a holistic approach to fraud, cross-channel security and channel protection, multichannel customer authentication, customer security tips and education, preventing of identity theft and the fivefold protection for personal bank accounts.

For more information, please contact Mike Lee at mike@atmia.com.