ATM Security Threats Increase
August 2, 2010
Total Loss:
$1 Billion per year
ATM skimming alone is responsible for $350,000 of fraud daily exceeding a billion dollars in losses annually.
A recent news report of a
skimming scam in Long Island, N.Y., netted thieves more than $200,000 from ATMs at five branches.
Skimming today is far more sophisticated than in the past. Skimmers can include blue tooth and texting technology that send the data to the criminal anywhere. Keypads can be compromised by devices that overlay the exiting pad and transfer the data remotely.
ATM scams and fraud go beyond skimming to crimes that are very physical such as ram raiding to remote malicious software hacks.
Source:
Bank Innovation
Posted in:
Debit Card Fraud