European ATM Fraud Attacks up 149% Says EAST Report EAST (the European ATM Security Team) has reported a 149% rise in ATM related fraud attacks during 2008.
BigNews.Biz - Apr 10,2009 - Edinburgh, UK, April 10, 2009 -- EAST (the European ATM Security Team) has reported a 149% rise in ATM related fraud attacks during 2008. This reverses a previous trend and is primarily led by the 129% increase in card skimming incidents, with a total of 10,302 reported. Despite this significant increase in incidents, fraud related losses increased by just 11% with a total loss of €485 million reported. This smaller increase in losses, relative to the significant rise in reported incidents, is indicative that that deployed counter-measures, such as anti-skimming devices, are increasingly effective, as are fraud monitoring and detection capabilities.
EAST Director and co-ordinator, Lachlan Gunn said, "This increase in reported incidents is of great concern to EAST members. While the year on year fraud loss figures show an increase, the half year figures show a declining trend for such losses over the past three six month periods, with international losses due to card skimming falling by 18% in the second half of the year. This indicates that the EMV* rollout in Europe continues to be effective, although international losses are expected to continue while criminals are able to illegally withdraw cash from ATMs abroad that are not EMV compliant”.
Losses due to card skimming continue to occur globally. Cases have been reported in Asia-Pacific, the Americas, Africa, Russia and the Middle East, as well as in Europe. According to EAST 90% of European ATMs are now EMV compliant. All ATMs within the Single European Payments Area (SEPA) are expected to be EMV compliant by the end of 2010.
With regard to the prevention of skimming, EAST members maintain close liaison with each other and with the vendors of anti-skimming devices. European ATM deployers continue to invest in such devices and EAST maintains a comprehensive list of them for the benefit of the industry.
Physical attacks on European ATMs, have fallen by 29%, primarily due to a decrease in the number of reported robberies, although cases of ram raids and ATM burglary have risen by 32%. While the cash losses for such attacks are well below fraud levels, the risks to people and the collateral damage to property continue to remain of great concern to the industry. The deployment of banknote ink/dye staining systems continues and EAST also maintains a list of such systems for the benefit of the industry.
* EMV (also known as ‘chip and PIN’) is an industry standard for Smart Cards and card readers, supported by the European Payments Council and the major payment schemes
The full report is available to EAST subscribers and details of how to subscribe to EAST can be found at www.european-atm-security.eu
ENDS
(Background data on the report & EAST follow)
For further information and a PDF copy of the report (Media only) please contact the EAST Coordinator, Lachlan Gunn:
Email coordinator@eas-team.eu Tel: + 44 1828 686344, Fax: + 44 1828 686888
EUROPEAN ATM CRIME REPORT 2008, Period: January to December 2008
The above release is based on a report prepared
.gif)
