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ATM Cash Trapping on the Rise

Cash trapping incidents alone were up astronomically, from 240 incidents in 2010 to 10,808 incidents in 2011. Cash trapping is on the rise because it gets around advanced chip technology. Skimming attacks, card trapping and transaction reversal events were either down or remained steady. Most of the losses linked to ATM fraud come from counterfeit cards created from skimmed mag-stripe details. Nearly 80 percent of ATM-related skimming losses come from markets where EMV is not mandated. The top three countries for fraud were the United States, the Dominican Republic and Colombia.”]

Source: https://www.cuinfosecurity.com/atm-cash-trapping-on-rise-a-4675

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