Fun with ATM Skimmers, Part III
Summary: According to the European ATM Security Team, ATM crimes in Europe rose 149 percent from 2007 to 2008, with 10,302 skimming incidents reported in 2008 and European ATM fraud losses near 500 million Euros. The U.S. Secret Service estimated annual U.S. ATM fraud losses at about $1 billion in 2008, roughly $350,000 per day, while about 90 percent of European ATMs were EMV-compliant and U.S. institutions did not require chip-and-PIN.
What's compelling: Roughly 80 percent of Europe's 2008 ATM fraud losses came from criminals using stolen card details outside Europe, and the U.S. figure of $1 billion a year lands on cardholders and retailers rather than the issuers who decide whether to adopt EMV.
Read the original at Krebs on Security ↗
- Topics
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