On 3rd November 2020, Europol and the FS-ISAC hosted the 3rd EU Financial Cybercrime Coalition (EUFCC) meeting. The virtual event brought together EU law enforcement and the financial sector to discuss financially motivated cybercrime in three dedicated workshops. Subject matter experts from both the private sector and law enforcement discussed the latest threats and trends in relation to ransomware, ATM attacks, and cyber-enabled fraud and business email compromise.

In the ATM Attacks session, Europol gave the law enforcement perspective and EAST Executive Director Lachlan Gunn gave a presentation from the viewpoint of the industry. The main issue covered was black box attacks which, as highlighted by the latest crime statistics published by EAST, are a rising threat in Europe.

The EAST presentation highlighted how its public/private sector platforms operate, and the latest ATM Attack trends.  The key topics covered by EAST were:

EAST also touched on e-skimming, and EAST Development Director Rui Carvalho, who also chairs the EAST Payments Task Force (EPTF), commented that, while skimming attacks on terminals are at the lowest level ever reported by EAST, e-skimming is a rising threat.  This is on the Agenda for discussion at the 8th EPTF Meeting, which will be held on 11th November 2020.