ACCA USA publishes Report on Skimmer Fraud

The Association of Chartered Certified Accountants (ACCA) in the USA has published a new research report entitled “Skimming the Surface – How Skimmer Fraud Has Become a Global Epidemic”.  The report was produced by Pace University, sponsored by ACCA USA.    

The report’s author, Dr Darren R. Hayes of Pace University, attended the first global conference of the European ATM Security Team (EAST), the EAST Financial Crime and Security (FCS) Forum, in June 2013.and EAST and its members subsequently assisted with research.

At last there is finally an ATM EMV liability shift in the USA!

The MasterCard EMV liability shift for Maestro debit cards at US ATMs is good news for the rest of the world, where card issuers have long had to put up with huge counterfeit fraud losses in the USA.  According to Europol around 80% of non-EU fraud against EU payment cards is committed in the US.  Criminals like cash, and ATMs that are not EMV compliant (i.e. perform transactions on magnetic stripes, rather than Chips) allow cash withdrawals on counterfeit EMV cards. 

Europe creates a Cybercrime Centre (EC3)

This month the European Cybercrime Centre (EC3) opened in the Hague at Europol.  EC3 will be the focal point in the EU’s fight against cybercrime, contributing to faster reactions in the event of online crimes. It will support Member States and the European Union’s institutions in building operational and analytical capacity for investigations and cooperation with international partners.