VIEWPOINT: ATM Fraud
In an EAST website research poll that ran from September to December 2014 respondents were asked the question ‘What do you feel is the biggest fraud risk to the ATM channel over the next few years?’
52% chose malware, 37% voted for card skimming, 4% for cash trapping, 3% for card trapping and 3% for social engineering.
Malware is an emerging fraud trend for the ATM channel. EAST has been reporting European ATM fraud statistics since 2004. Over the past decade we have seen fraud trends change, particularly since the EMV (Chip and PIN) roll out commenced. Most recently we have seen a shift from hi-tech skimming to lo-tech card and cash trapping. Our next European ATM Crime report, covering the full year 2014, is scheduled for publication in April 2015.
You can see some of our ATM Fraud definitions on this website. We define ATM Malware as either ‘cash out/jackpotting’ or ‘card and Pin compromise’ and a definition for social engineering is ‘the clever manipulation of the human tendency to trust’.
The current website research poll is on cardholder awareness and asks the question – ‘How often do you see fraud warnings and fraud prevention messages displayed on ATMs in your country?’ To take it, and to see all past results, visit the ATM Research Page on this website, or click on the button below.
