European ATM fraud rises by 15%

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European ATM-related fraud incidents went up 15 per cent in the first six months of 2015, compared to the same period in 2014, driven by increases in card trapping and transaction reversal fraud, a new report has revealed.

The European ATM Security Team (EAST), which compiled the report, found the rise was mainly driven by an 18 per cent increase in card trapping attacks (up from 2,579 to 3,043 incidents) and a 985 per cent increase in Transaction Reversal Fraud (TRF) attacks (up from 117 to 1,270 incidents).

 

Card Trapping

Trapped cards can be used in the EMV environment (if the PIN has also been compromised). Some 1,986 card skimming incidents were reported, down 18 per cent from 2,425 in the first half of 2014.

The research also found that losses due to ATM-related fraud attacks had risen to €156m, an 18 per cent increase compared to  the first six months of 2014.

 

Skimming losses

The EAST team attributed this to an 18 per cent rise in international skimming losses (up from €111 million to €131 million). The Asia-Pacific region (particularly Indonesia) and the USA are where the majority of such losses were reported. Domestic skimming losses rose 11% over the same period.

Lachlan Gunn, EAST executive director, said: “International skimming losses have risen for the past four reporting periods and EAST is working closely with Europol to raise awareness of this issue in Asia-Pacific and the Americas.”

The report, prepared twice-yearly by EAST to provide an overview of the European ATM crime situation for law enforcement officers and EAST members, uses statistics provided from 20 European states.

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