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Effectiveness of Anti-skimming ATMs

The European ATM Security Team report says attacks on ATM on are the rise but losses continue to fall, due to anti-skimming measures such as the EMV integrated circuit card (chip card). Although the past six months have seen the largest number of attacks ever reported (since 2004 when recording began) losses per attack have gone down:

The EAST report shows that ATM related card skimming losses have fallen consecutively for the last five reporting periods, from a high of 315 million in the second half of 2007, to the 144 million just reported. The fall is believed to be a direct result of the effectiveness of the EMV rollout, as compromised European cards are increasingly being used outside of the 31 countries of the Single Euro Payments Area (SEPA).

The report shows that other parts of the world, which lack EMV, have not seen the same decline in losses.

EAST estimates that are 369,656 ATMs in Europe that now are EMV compliant, about 95 percent of 388,482 ATMs reported by the 31 SEPA member countries.

Posted in Security.

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