ATM Skimmers, Part II
Summary: Rick Doten, chief scientist at Lockheed Martin's Center for Cyber Security Innovation, said the U.S. Secret Service estimated annual ATM fraud losses at about $1 billion in 2008, or roughly $350,000 each day. Card skimming, in which a bogus reader is affixed over the real one, accounts for more than 80 percent of ATM fraud, and one site advertised a rent-to-own scheme offering equipment for 50 percent of data collected in exchange for a $1,000 deposit.
Bottom line: More than 80 percent of ATM fraud runs through a skimmer laid over the real card reader, and at $1 billion a year the losses are routine enough that a rented kit and a $1,000 deposit are all a new thief needs to start collecting card data.
Read the original at Krebs on Security ↗
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