ATM skimming attack sophistication, and recent global upticks in ATM cash-out schemes, have put a spotlight on ATM-related fraud. Banking institutions, in particular, have struggled to keep up with some of these emerging ATM fraud schemes. One challenge banks and credit unions face is that their ATM networks are often made up of terminals from multiple manufacturers. That's made anti-skimming hardware and software upgrades or other retrofitting on existing equipment difficult.
In this session, Graham Mott, head of development at LINK Scheme will walk attendees through the types of fraudulent attack that are being used today and offer advice on how to counteract the schemes.
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The battle between fraudsters and the ATM operators is ongoing and apparently never-ending. Initial successes with the first generation of anti-skimming devices lead to the growth of "back to basic" techniques which require the minimum technology and organisational support. Now, as new defense mechanisms counter the low-tech, a new wave of high tech devices are coming on stream, as well as super high-tech techniques like malware and system hacking attacks which involve long term investment, detailed technical skill and the organisation to run multi-country operations in a very short space of time.
This session was recorded during the 2014 Fraud Summit London. Additional recordings include:
Mott joined LINK as head of development and external relations in 2006. Mott's role includes external relations, public affairs and technical developments, fraud management, physical ATM crime and liaison with the 37 members. External relations is a key element of Mott's role, leading LINK's liaison with a wide range of organisations such as the government, Bank of England, Treasury, as well as police, service suppliers, local authorities and regulators such as the new Payments System Regulator and consumer and charity groups. Mott also initiated and runs the innovative partnership between finance and academia with liaison and sponsorship of ATM crime research at Central St. Martins College, University of London.