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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.”
Stateside Associates legislative and regulatory monitoring services have been renewed for 2022. Even if you have been a regular recipient of the legislative alerts, you may not be aware of the other information available as part of our relationship with Stateside. This includes an interactive map that shows every state for which we have received alerts, and the number of bills introduced during the current legislative session. Smaller states are listed on the right.
Steal a pair of blue jeans or $10,000 from an ATM and the penalty, if you are caught, may be the same. ATM theft is often considered a property crime – committed in the dead of night when no one else is around and without the use of weapons. Sentences are often at the misdemeanor level. As a result, perpetrators are usually out on the street in short order and committing more crimes.
Next month’s ATMIA U.S. Conference is all about an exciting focus on the future of the ATM industry – and you will certainly want to be part of it. The Next Generation of ATMs is already emerging, ushering in a new user experience, increased functionality, enhanced security, and more opportunities to grow revenue. And this is where you will learn more about how that is going to happen.
What a great way to end the year and three years of effort! On December 1, the FFIEC issued a press release and announced revised language and updates to the BSA/AML bank examination manual. Significant changes were made to four different sections of the manual, including Independent Automated Teller Machine Owners or Operators. The revision is very well done and should be quite helpful in improving relationships between bankers and IADs.
Of benefit to the entire U.S. ATM industry . . .
Keeping track of legislative activity at the State level is a very challenging task. According to the National Conference of State Legislatures, 109,000 bills are introduced at the state level – every year! And buried within that avalanche of legislative activity will be 100 or so bills that have potentially significant impact on the ATM industry.
The 23rd annual ATMIA U.S. Conference next February will be a very special one – celebrating the 25th anniversary of ATMIA. You don't want to miss this.
Every segment of the industry will be represented. IADs, financial institutions, cryptocurrency, ATM manufacturers, processors, communications, service and maintenance, insurance, cash management, and every other type of provider that “touches” ATMs during their life-cycle will all be there, February 8-10, 2022, in Orlando FL at Universal Studios.
Financial institutions face their own set of unique challenges in fighting ATM crime – and crime in the self-service channel is changing. For many years, card skimming has been the top priority. But as successful deployment of countermeasures has put a dent in skimming activity, significant increases in physical attacks and low-tech fraud are creating new priorities. Even explosive attacks, once rare in the U.S. market, are becoming more common – as is the collateral damage that accompanies them.
If you attended last month's USA conference, you participated in the ATM industry's return to in-person events and networking. And we are not done yet – two more events are very close on the horizon.
Our return to Las Vegas was tentative, at best, for a painfully long stretch of time. But in the end, the timing turned out to be perfect. Requirements for social distancing and wearing a mask were lifted on June 1, allowing for an environment that felt quite normal.
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