The European ATM Security Team (EAST) has
reported a 14% drop in ATM related fraud losses in 2010, with total
losses of €268m ($387.6m) reported.
This is the second successive annual drop,
following on from the 36% fall reported for 2009. EAST attributes
the fall to a reduction in losses due to card skimming attacks,
which have fallen for the past six half yearly reporting periods,
from a peak of €315m in December 2007 to the current level of €123m
in December 2010.
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ATM related fraud attacks fell by 7% with a
total of 12,383 incidents reported.
“The continuing drop in fraud losses is very
good news for both cardholders and the industry, and indicates that
the significant investment made by the European banking sector into
EMV technology, as well as into anti-skimming devices at ATMs, is
now really starting to pay off,” said Lachlan Gunn, EAST’s director
and coordinator.
“That being said, these statistics are for
Europe as a whole, and seven out of the twenty two contributing
countries reported an increase in skimming related losses – a
significant increase in some cases.”
82% of ATM-related card skimming losses are
now international – losses outside national borders by criminals
using stolen card details – with most now occurring in
countries outside of Europe. The risk of counterfeit EMV cards
being used to withdraw cash fraudulently from ATMs in parts of the
world that are not EMV compliant remains high and is leading some
European card issuers to implement additional security
measures.
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By GlobalDataPhysical attacks on European ATMs have fallen
by 16% when compared with 2009 – down from 2,468 to 2,062
incidents. Within this total the number of reported explosive and
gas attacks (278) has gone up for the second year in succession, an
88% increase when compared to 2009. Overall losses rose 18% to
€33m.
