Fewer industry stakeholders seeing rise in ATM crime, study finds

By ATMmarketplace.com

The ATM Industry Association has released the results of its 2016 annual fraud survey results. In a key finding, the study charted a year-over-year decline (from 51 percent to 42 percent) in the number of participants who said ATM crime was increasing.

"This good news," ATMIA CEO Mike Lee said in a press release. "However, the wide range of types of attack, as well as the technologies and tools used by fraudsters, remains a daunting challenge which calls upon us to stay vigilant and cooperate with law enforcement in stamping out crimes targeting ATMs."

The study, conducted by international ATM security expert Douglas Russell, not only provides an overview of ATM-related crime, but also details practical steps to deal with various threats. These include card skimming and shimming, PIN compromise, deposit fraud, cash and card trapping, jackpotting, transaction reversal, eavesdropping, malware, network packet sniffing, network compromise and more.

Lee urged ATMIA members and industry stakeholders to read the report and to take advantage of the ATMIA online library of best practices in order to reduce the incidence of ATM crime in 2017. All materials are available at no additional charge to association members.