...TYPES OF ATM FRAUDS
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ATM frauds have become more sophisticated over the years as
fraudsters use hi-tech gadgets to either steal ATM cards and personal details of
the customers. In addition to burglary, fraud, and physical attack, ATM frauds
include the Lebanese loop, distraction, card jamming, card swapping, diversions
and website spoofing or phishing, false ATM presenter, fraud using a stolen card
and ATM burglary.
• The Lebanese Loop
• Distraction
• Card Jamming
• Card Swapping
• Diversions
• Website spoofing or "phishing"
• False ATM Presenter
• Fraud Using a Stolen Card
• ATM Burglary
• Customer PIN Stealing Methods... |
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...FRAUD PREVENTION SOLUTIONS
To make an ATM secure for consumers to operate and difficult for
fraudsters to manipulate, a number of factors need to be considered
including location of the ATM, video surveillance, remote
monitoring, anti-card skimming solutions, and spreading consumer
awareness so that consumers can easily identify if any ATM is
tampered with and take precautions to prevent their personal
identity from being exposed to fraudsters...
• Remote Monitoring
• Anti Card Skimming Solution
• Consumer Awareness
• NCR Corporation Introduces Fraud Detection Solution
• Barclays Bank Launches an Antifraud Initiative
• Barclays Introduces Tamper Free ATM
• MasterCard Introduces Online Fraud Monitor
• Introduction of Eurocard Mastercard Visa Smart Cards in the Asia
Pacific Region
• Financial Organizations in the US Convert from Magnetic Strip to
Chip Cards
• What are EMV Chip Cards?
• Tackling with ATM Frauds
• Industry Analysis
• Challenges Facing the Financial Industry in Fighting ATM Frauds
• Banks Push Smaller Frauds under the Rug
• Lack of Consumer Awareness
• Decline in Consumer Confidence...
...REGULATORY ENVIRONMENT
As financial crime has increased, it has drawn greater attention
from law enforcement and governmental agencies. This has also
resulted in joint efforts by public and private agencies such as
private risk management companies and law enforcement task forces...
• Anti Money Laundering Regulations
• UL 291 Level 1
• DCPCU
• Fraud Intelligence Bureau
• ICC Financial Investigation Bureau
• Arkansas Passes Law to Protect Confidential Customer Information
• Japan Implements Regulations to Refund ATM Fraud Victims...
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