Are you doing all that you can to prevent ATM skimming?
Card Fraud at the ATM
Stories of fraud at the ATM are becoming all too familiar. But just how often are criminals stealing card data from automated teller machines here in the U.S.? According to FICO, a credit scoring and analytics firm, criminals are stealing card data from ATMs in the United States at the highest rate in two decades. From January 1 to April 9, 2015, FICO tracked such incidents through its Card Monitoring Services for financial institutions, which represents more than 65% of all U.S. debit cards. Debit card compromises at ATMs located on bank property jumped 174% from January to April, compared to the same period last year. Successful attacks at non-bank machines soared by 317%, as recorded by FICO.
Skimmers Are the Culprits
Many of the ATM fraud incidents mentioned above have involved a long-established technique known as skimming. ATM skimming is like identity theft for debit cards. Thieves use hidden electronics to copy personal data from the magnetic stripe on an ATM card. Generally, a skimming device is accompanied with a PIN capturing device/camera. Criminals are then able to manufacture counterfeit debit cards using the stolen information.
NuSource Recommends TMD’s Anti-Skimming Protection
As instances of ATM card fraud continue to rise, it appears that every financial institution is vulnerable. While efforts have been made to enhance payment card technology, ATM manufacturers say skimming still remains the number one global threat when it comes to tackling card fraud. TMD Security, the global leader in anti-skimming for ATMs and self-service terminals, offers security solutions to help beat skimming fraud. TMD’s patented solutions secure over 350,000 ATMs globally. Whether you’re looking to apply digital, analogue or stereo anti-skimming systems, TMD delivers the complete anti-skimming package. Until all deployers in the U.S. install anti-skimming protection on their ATMs, the number of domestic skimming incidents and the cash losses associated with them will continue to escalate.
Protect your financial institution from becoming the next victim.
Key Benefits of TMD’s Anti-Skimming Protection vs. NCR’s Solution.
- Active Jamming Dip System: An active jamming dip system (TMD) vs. detection-based (NCR) offers protection without ever taking the ATM out of service.
- One Common ATM Anti-Skimming Platform: NCR does not have an anti-skimming solution for their Personas line. 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.
- Maximized 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.
- Less Vulnerable: Detection-based systems (NCR) are being defeated by more sophisticated skimming devices, such as inlay skimmers. Active jamming systems (TMD) stop inlay skimmers.
Contact your NuSource Representative for more information on TMD’s Anti-Skimming Protection.