ATM Frauds and Solutions

ATM Frauds and Solutions


ATM FRAUDS In general ATM fraud can include any deliberate 'criminal' technique which involves the use of an ATM to obtain something of value. Attacks against ATMs may be classified as ATM physical attacks and ATM fraud.

Growing ATM Threats

• More than 70 percent of financial institutions experienced an increase in ATM/debit card fraud claims in 2011
• The U.S. Secret Service reports $8.5B in annual U.S. credit card fraud losses, including ATM skimming.
• Ram raids are those threats when criminals physically break out ATMs from the wall at the institution.
• Criminals go through the financial institution's telephone banking service to change PIN numbers.. 

Types of ATM Frauds 

• Card Theft 

• PIN Compromise 

• Card Skimming 

• Cash Trapping 

• Transaction Reversal 

• Deposit Fraud. 

What is ATM Skimming 

• ATM skimming Device card reader which can be disguised to look like a part of the machine. The card reader saves the users' card number and pin code, which is then replicated into a counterfeit copy for theft. 

• It help criminials in

   a) Knowing Account information 

   b) Pin compromise 

• ATM card entry slot skimmers have various shapes and sizes

How PIN is Compromised

 • Its obtaining debit card information by unauthorized individual. 

• Shoulder surfing or using use of a miniature camera. 

• Video surveillance 

• Hidden video camera 

• Overhead cell phone camera 

• Remotely positioned cameras 

• PIN pad overlay

ATM System Attacks 

• Criminal attempts to penetrate ATM network, violate confidentiality, integrity, and/or authenticity of transaction data. 

• Malicious software (i.e., viruses, worms, Trojans, rootkits, etc.) installed on ATM’s computer systems

How to avoid ATM Frauds 

• Fraud Prevetion 

• Physical Protection 

• System Security

• Intellegent Monitoring 

• Consultancy 

• Consumer Safety

Fraud Prevetnion 

• Shield your hand when you enter in your PIN 

• Ensure that no one is peeking or shoulder surfing while you are entering PIN. 

• Avoid using ATMs in isolated locations 

• Always prefer ATM machines near Bank Branch.
ATM Skimming • Never follow a link in a bank email notice if you find it suspicious. visit your banks website and search for latest updates. 

• Examine the ATM equipment carefully for any skimming devices. • Look for 'extra' cameras other than general ATM security camera. 

• Check the ATM card Slot properly before using it. 

NEVER EVER RELY ON UNKNOWN PERSON
• Use of Up-to-date Technology 

• Security CCTV Cameras 

• Alarm Clock 

• Safe and locks 

• Video monitors in junction with sensors. 

• Ensuring Best Location for ATM deployment. . Physical Protection of ATM for Owners

• Very high security level 

• Alarm System 

• Branded and Top Quality Machines 

• Latest Software and Technology 

• Enhanced Card Reader Slots Choose an ATM Service Provider which gives

CONCLUSIONS 

• Choose your ATM machines carefully

• Prefer ATMs near Bank • Don´t let anyone distract or assist you 

• Cancel your card immediately if it is lost • Check the card slot carefully 

• Ensure that there are no hidden cameras

THANK YOU