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Free ATM Anti-Fraud, Anti-Skimming White Paper Now Available

Posted On: 3/24/2016

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TAGS: ATM Security Association, ATM card compromising techniques, ATM skimming countermeasures, ATM Skimming and Card Compromise Modi-Operandi and Countermeasures, Cees Heuker, Hoek, TMD Security

UTRECHT, Netherlands -- The ATM Security Association has released a white paper on ATM card compromising techniques and countermeasures. "ATM Skimming and Card Compromise Modi-Operandi and Countermeasures" provides insights to ATM operators and card issuers seeking solutions to protect their cardholders.

A problematic crime for ATM operators, skimming involves the use of increasingly sophisticated devices introduced into an ATM to capture customer card data. Thieves then either imprint that data on blank cards or sell it on one of a growing number of online black market sites. According to the association, the global cost of ATM skimming is estimated to be more than $2 billion annually and continues to rise.

"ATM skimming represents over 98% of all ATM fraud losses, and the average cost of a skimming incident continues to rise to over $60,000," explained Cees Heuker of Hoek, TMD Security, who is a member of the ATMSA working group that prepared the white paper. "ATM deployers have different risk profiles, infrastructures, availability targets and budgets but confronted with the constantly evolving nature of global organized crime, they all have one requirement in common: reduce the risk of fraud and protect consumer trust. The strategy of the working group is to develop an independent and up-to-date means of evaluating anti-skimming technologies for deployers, manufacturers and service providers. This white paper is the first of a series of planned deliverables which will help to achieve greater consistency and effectiveness in the fight against ATM fraud."

The white paper concludes that global ATM security standards, independent methods of evaluating countermeasures and up-to-date information sources on the latest skimming techniques are required for effective protection against current and emerging threats. An important step is removing the magnetic stripe from cards once the global migration to EMV has been completed.

A second paper from the skimming and card compromise working group is already in preparation. The group is drawing up a requirements document for anti-skimming and card compromise solutions with the objective to provide a tool for the evaluation of new ATM security technology or existing risk management strategies. The document is said to include key technology requirements, functional requirements and compliance that will create the foundation for the next step, the definition of technology standards and an assessment methodology.

The ATM Security Association is dedicated to improving ATM security. The association aims to compile information on recognized and potential attack scenarios on ATMs and share that information with specific industry groups to rapidly develop and implement countermeasures at a global level.

Click here to download the antifraud white paper.