Fraud at the ATM is increasing on a global scale. This trend is expected to continue as the U.S. ramps up its migration to EMV. It may be surprising to many that even as credit and debit card technology becomes increasingly sophisticated, old-fashioned ATM skimming is still on the rise. In the past year alone, ATM skimming has resulted in more than $2 billion in losses at ATMs around the world, according to ATM Marketplace. Additionally, 33% of all fraud incidents are linked to skimming fraud and 98% of all losses result from skimming crime. Are you fully aware of what skimming is, and how to prevent it? NuSource is here to shed some light.
What is Skimming?
Skimming involves compromising a card-reading device to capture cardholders’ private and personal data for financial gain. ATM skimming is like identity theft for credit and debit cards. Thieves use hidden electronics to copy personal data from the magnetic stripe on a card. Generally, a skimming device is accompanied with a PIN capturing device/camera. Criminals are then able to manufacture counterfeit cards using the stolen information. Although more and more chip cards are being issued, many merchants have yet to invest in EMV-compliant terminals. Due to this delay, most chip cards still have the traditional magnetic stripe on the back of them. As long as a magnetic stripe is placed on cards with an EMV chip, the ability to skim that card remains.
NuSource Recommends TMD’s Anti-Skimming Protection
With over 300,000 units installed globally, TMD Security is the global leader in anti-skimming for ATMs and self-service terminals. Their patented solutions have been proven to protect against various skimming devices more effectively than any other anti-skimming solution on the market. In fact, a recent report conducted by FTR, an independent organization, found that TMD’s anti-skimming technology was the only solution being tested that stopped digital, analog, and stereo skimmers from recovering card data. As you’ll see in the image below, anti-skimming protection from Cennox, NCR and Wincor Nixdorf only prevented data from being recovered through digital skimmers. Criminals are using digital, analog and stereo anti-skimming systems to steal valuable data off of debit and credit cards. TMD offers the complete anti-skimming package to keep your data protected!
Key Benefits of TMD’s Anti-Skimming Protection vs. NCR’s Solution
- Active Jamming Dip System: An active jamming dip system (TMD) offers protection without ever taking the ATM out of service. Detection-based systems (NCR) will shut down the ATM each time.
- One Common ATM Anti-Skimming Platform: NCR does not have an anti-skimming solution for their older Personas ATMs. Unlike NCR’s solution, TMD’s platform can be applied to all ATM models.
- Greater Reliability: On average, detection-based systems (NCR) can expect up to 20 false alarms per month. Since TMD’s solution is active, there is much greater accuracy and reliability when it comes to protection, resulting in almost no false alarms.
- Minimized Cost: False alarms from detection-based systems are costly, since the ATM must be taken out of service to repair/replace. TMD’s solution eliminates the possibility of false alarms and service calls, maximizing the ATM’s uptime and saving money.
- Less Vulnerability: Detection-based systems (NCR) are being defeated by more sophisticated skimming devices, such as inlay skimmers. Active jamming systems (TMD) stop inlay skimmers.