The Fourth Meeting of the EAST Payments Task Force (EPTF) took place on Thursday 22nd November 2018 at the Banking & Payments Federation Ireland (BPFI) in Dublin.
The EPTF is a specialist task force that discusses security issues affecting the payments industry and that gathers, collates and disseminates related information, trends and general statistics. The EPTF has recently published Payment Fraud Terminology and Payment Fraud Definitions. The aim is for the payment fraud terminology, and related payment fraud definitions, to be adopted globally when describing or reporting payment and transaction fraud.
The meeting was chaired by Mr Rui Carvalho, EAST Development Director, and was attended by key representatives from Card Issuers, Law Enforcement, Payment Processors, Payment Providers and Solution Providers.
Presentations or updates were given by BANCOMAT S.p.A, BPFI, Diebold Nixdorf, EURO Kartensysteme GmbH, Europol, INTERPOL, PayLife, PayPal, Trend Micro, Visa Europe.
The Group, which meets twice a year, adds value to the payments industry by using the unique and extensive EAST National Member platform and Associate Member network to provide information and outputs that are not currently available elsewhere. EAST National Members represent 35 countries and outputs from the group are presented to National Member Meetings. There are 202 EAST Associate Member Organisations from 52 countries and territories.
Europol’s European Cybercrime Centre (EC3) and Trend Micro have announced the release of a new joint report, “ATM Malware on the Rise”, which offers a comprehensive overview of the ATM malware threat and the specific malware types in circulation.
With more than three million ATMs across the globe and the total number of cash withdrawals averaging around EUR 8.6 billion per year, ATMs are an attractive target for criminal attacks. Through the use of specially designed malware, attackers no longer need to use traditional safe cracking methods to empty an ATM’s money safe.
In this report, the first of its kind to offer such a comprehensive overview on the topic, Trend Micro and Europol highlight the increasing sophistication of cyber criminals in terms of how attacks are planned and orchestrated, using both new methods and techniques in conjunction with well-known attack vectors.
More information can be found on the Europol website. To counter the ATM Malware threat Europol and the EAST Expert Group on ATM Fraud (EGAF) produced ‘Guidance & recommendations regarding logical attacks on ATMs’ in June 2015. EAST EGAF continues to focus on the latest ATM malware and logical threats and what can be done to counter them.
This new and restricted report has been released to a closed audience consisting of law enforcement authorities, financial institutions and the IT security industry. It has also been authorised for release to EAST Members (National and Associate).