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A New Year and New Sessions for State Legislatures Across the Country
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New updated look and format to our newsletter. Great articles and information you won't want to miss.
A growing number of conversations are taking place regarding Central Bank Digital Currencies in all sectors of the payments industry, including ATM self-service.
Make your plans to participate, now
I'm excited!! This feels like it is going to be the first, really normal conference that we have been able to host since 2019, when we were surrounded by the make-believe world of Disney. Restrictions have fallen away. Travel is booming again. And expectations are high.
As the incoming president of the ASA, I thought this month might be an appropriate time to re-visit the progress being made in accumulating ATM crime data. Last November, I introduced the CCMIS to a meeting of law enforcement specialists, organized by the U.S. Secret Service. We were quite pleased to announce that over 500 ATM crime incidents had 'already' been reported.
As part of a nationwide effort to educate and inform both Law Enforcement and consumers, the ATM Industry Association (ATMIA) recently announced the release of a handout addressing cryptocurrency fraud schemes. The two-page document includes brief descriptions of six different types of fraud schemes and recommendations for law enforcement best practices when a crypto ATM scam is suspected.
Our industry has complained loudly for many years that "the penalty should fit the crime". When the crime involves theft from an ATM or theft of the ATM, even along with its entire contents, that rarely happens. Unless the same criminal group is crossing state lines to commit multiple crimes, in multiple jurisdictions.
One of the most dramatic consequences of the recent COVID-19 pandemic has not received very much attention. U.S. banks have closed more than 4,000 branches since March of 2020, which doubled the pre-pandemic rate of 99 per month over the previous 10 years, to a new high of 201 per month. A recently released NCRC (National Community Reinvestment Coalition) study noted that “Small businesses still depend on in-person banking services despite the proliferation of online alternatives, and the shrinking of branch networks threatens local economic activity that is key to wealth-building in marginalized communities.”