ATM, merchant card reader compromises hit new high - March 08, 2018
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ATM, merchant card reader compromises hit new high

Thursday, March 08, 2018

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Company: ATM Industry Association


The number of payment cards compromised at U.S. ATMs and merchant locations climbed 10 percent in 2017, according to Silicon Valley-based FICO. The number of card readers compromised at U.S. ATMs, restaurants and merchants rose 8 percent.

"The number of compromises and the number of card members impacted set a new record last year," T.J. Horan, vice president of fraud solutions at FICO, said in the release. "While most devices are safe, fraudsters are developing new technology and methods for hacking ATMs. This is why it's important for consumers to be cautious when withdrawing cash, and also for them to check their account regularly and confirm that all the transactions on their debit card are legitimate."

Data supporting the numbers comes from the FICO Card Alert Service, which monitors hundreds of thousands of ATMs and other readers in the US. These figures cover only card fraud occurring at physical devices, not online card fraud.

The release did not offer a more detailed breakout of the numbers — for instance, whether cards and card readers were compromised more often at merchant readers or at ATMs.

Last year, FICO statistics indicated that independently owned ATMs were more often skimmed than bank-owned machines in 2016, an assertion that IADs strenuously denied.

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