Stay Vigilant against ATM Skimming

As an ATM business owner, you face many challenges, but one of the biggest challenges that you face is the threat of fraud from ATM skimming. 

ATM skimming has increased by more than 90% in the last year alone and it shows no sign of slowing down as it’s easier than ever before for criminals to hack debit cards and steal money from unsuspecting bank accounts. 

With ATM skimming costing consumers over $1 billion dollars each year, it makes sense for ATM business owners to do their part to protect their businesses from ATM skimming and avoid becoming a statistic. 

What’s Being Done To Stop ATM Crime? 

Thankfully, a lot is being done to stop ATM skimming each year because technology is always changing and adapting to fight the onslaught of ATM skimming tactics from criminals. 

Some of the things that are being done to stop ATM criminals include: hardening the entire ATM environment, point-to-point encryption, device paring, whitelisting, and adding additional layers of security to ATM’s have proven successful at stopping criminal tactics like jackpotting.  

A Difficult Battle 

Yes, ATM machines can be protected to stop criminals and ATM skimming but the reality is that even though one ATM machine is protected, that doesn’t mean that an ATM card will be protected at the next ATM machine it’s used because the magnetic strip makes the card ATM card vulnerable. 

With most consumers using their ATM cards at the gas pump, grocery store, or other points of sale, there are always multiple locations for a criminal to set up an ATM skimming operation.  

As the battle against ATM skimmers continues, other strategies are being used to eliminate the value of data acquired by skimmers. This combined with ever evolving transaction identification technology is proving useful at winning the battle against ATM skimming and continuing to build customer confidence in using their ATM cards.  

Source: Hyosung

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By Jeremy Raglin, Content Writer

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