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Why ATM Fraud Losses Will Surge

Experts have warned about upticks in global card fraud as U.S. banking institutions gear up for rollout of EMV chip cards. Skimming at ATMs was reported by 20 European countries in the third quarter, with attacks increasing from the previous quarter in eight of them. The fraudsters will continue to capitalize on current magnetic-stripe vulnerabilities while they can, experts say. Banking institutions should brace for more financial losses related to skimming and take steps now to shore up their cross-channel fraud detection strategies (see How to Fight Cross-Border ATM Fraud)”]

Source: https://www.bankinfosecurity.com/blogs/east-p-1585

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