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European ATM Fraud Losses Down 36% Reports EAST - European ATM Security Team - EAST (the European ATM Security Team) has reported a 36% drop in ATM related fraud losses in 2009, with total losses of 312 million Euros reported. Annual losses due to card skimming have fallen for the first time since EAST began reporting in 2004
European ATM Fraud Losses Down 36% Reports EAST - European ATM Security Team

 

NewswireToday - /newswire/ - Edinburgh, United Kingdom, 2010/04/09 - EAST (the European ATM Security Team) has reported a 36% drop in ATM related fraud losses in 2009, with total losses of 312 million Euros reported. Annual losses due to card skimming have fallen for the first time since EAST began reporting in 2004.

   
 
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EAST (the European ATM Security Team) has reported a 36% drop in ATM related fraud losses in 2009, with total losses of 312 million Euros reported (down from 485 million Euros in 2008). Annual losses due to card skimming have fallen for the first time since EAST began reporting in 2004 (down from 484 million Euros in 2008 to 310 million Euros in 2009).

International losses due to skimming attacks fell by 43% from 393 million Euros to 226 million Euros, continuing a downward trend for each six monthly reporting period first noticed at the end of 2007. This is further indication that the EMV* rollout at ATMs in Europe (now 94% complete) is helping to reduce skimming losses, and also that fraud counter-measures, fraud monitoring capabilities and fraud detection continue to improve. Losses continue to be reported globally, and 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.

Despite this drop in losses, overall ATM related fraud attacks rose 8% with a total of 13,269 incidents reported (up from 12,278 incidents in 2008). This rise has been led by a 209% increase in the number of cases of card trapping (up to 2,166 incidents from 701 in 2008), while the total number of skimming incidents reported decreased by 1% over the same period. EAST first reported an increase in card trapping incidents at the end of the first six month period in 2009 and the figures for the second six months have shown a further increase. Assuming the PIN has been compromised, a captured EMV card can be fraudulently used at EMV compliant ATMs and other payment terminals, until it is blocked by the issuing bank.

EAST Director and co-ordinator, Lachlan Gunn said, "EAST reports on global figures for Europe as a whole, and the situation in individual countries can be very different to the overall European picture. For example, eleven of the twenty three reporting countries reported increases in skimming activity, and in some cases a significant increase in skimming related losses, while others reported big falls. EAST provides a forum where national representatives can hold frank discussions on what is actually happening in each country, with a view to assisting both the industry and cross-border law enforcement to counter existing and emerging threats.”

Physical attacks on European ATMs, have fallen by 2% when compared with 2008 (down from 2,520 to 2,468 incidents), primarily due to a decrease in the number of reported ram raids and ATM burglaries. Despite this drop in incidents, overall losses rose 7% to 28 million Euros (up from 26 million Euros in 2008). Attacks on staff involved in the cash replenishment and servicing of ATMs rose by 40% (from 365 to 510 incidents) although the number is still well below the 1,950 cases reported in 2007.

* EMV (also known as ‘chip and PIN’) is an industry standard for Smart Cards and card readers, supported by the European Payments Council and the major payment schemes.

The full report is available to EAST subscribers on the EAST website.

EUROPEAN ATM CRIME REPORT 2009, Period: January to December 2009
The above release is based on a report prepared twice-yearly by EAST to provide an overview of the European ATM crime situation for law enforcement officers and EAST members, using statistics provided from 23 European states. The following countries, with an estimated total installed base of 368,559 ATMs, supplied full or partial information for this report:

Austria; Belgium; Cyprus; Denmark; Finland; France; Germany; Greece; Hungary; Ireland; Italy; Liechtenstein; Luxembourg; Malta; the Netherlands; Norway; Poland; Portugal; Slovakia; Spain; Sweden; Switzerland; the United Kingdom.
EAST intends to obtain such information from all 27 European Union states as well as from Iceland, Liechtenstein, Norway, and Switzerland.

EAST has taken reasonable measures to develop the report this press release is based on and to report in a fair, reasonable, open, and objective manner. However, EAST makes no claims, promises, or guarantees about the completeness of the underlying data. In addition, as the information in the report has been passed to EAST by other parties, errors or mistakes may exist or be discovered. Neither EAST nor its members, authors, or agents shall be liable for any loss, damage, or claim with respect to any such information being provided. All such liabilities, including direct, special, indirect, or consequential damages, are expressly disclaimed and excluded.

About EAST
Founded in 2004, EAST is a ‘not-for-profit’ organisation whose members are committed to gathering information from, and disseminating EAST reports to ATM deployers and networks within their countries/regions. While the main focus of EAST is on ATMs, the group also focuses on all payment terminals that have a direct impact on crime perpetrated at ATM locations.
Our mission is to gather and provide information to the European ATM industry and to facilitate effective representation of ATM related security issues at relevant European central institutions, through a pan-European co-ordination of ATM security resources.
EAST has set up a framework network structure to improve co-operation with industry, law enforcement, and in particular Europol, in order to achieve awareness and better results in the fight against organised cross-border crime.

Media Contact:
Penny Haywood
PHPR / T: +44 (0)7850 657 714

Submitted by NeonDrum on behalf of EAST - European ATM Security Team
Nicky Denovan / T: +44 7747 017654

 
 
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European ATM Fraud Losses Down 36% Reports EAST - European ATM Security Team

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