Industry insiders say card skimming incidents are growing and the ATM is the most-hit target, and a rash of targeted phishing schemes brings phishing attacks back to the fore.
After an uptick in skimming incidents already in 2010, security experts say that we will see even more skimming in the United States in the months ahead, particularly against ATMs.
There have been roughly 40 incidents of skimming or POS attacks reported so far in 2010. They range from tried-and-true ATM skimming to insider crimes and the troubling new trend of pay-at-the-pump thefts.
While deposit fraud at the ATM has remained stable for the last three to four years, the ability for fraudsters to commit these crimes is significantly reduced when ATMs move to imaged or automated-deposit platforms.
ACH and wire fraud. ATM skimming. Payment card compromises. Mortgage fraud. Phishing.
Financial institutions are besieged by fraud threats today - and not just via one dominant channel, but through all of them. Simultaneously.
How can institutions fight back - as well as educate & enlist their consumer and...
Interview with Don Rhodes, director of risk management for the American Bankers Association, on why chip and PIN doesn't make sense for many U.S. banks.
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