Tuesday, 9 October 2012

ATM related skimming losses rise again - mainly outside Europe

The European ATM Security Team (EAST) has reported a 15% increase in ATM related skimming losses, despite a 13% fall in skimming incidents.  Most of these losses are taking place outside Europe in countries where the EMV (Chip and PIN) liability shift has not yet been adopted, or where the roll out of EMV compliant ATMs has not yet been completed.  That being said, skimming incidents now make up just 35% of all reported ATM related fraud attacks, with the remainder being due to low-tech attacks such as cash trapping, card trapping and transaction reversal fraud (TRF).  Losses due to the low-tech attacks are very low: losses of just €3 million were reported, compared to skimming related losses of €128 million.
To download the full press release visit the EAST Website.

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