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ATM fraud on the rise in US – FICO report

Monday 3 April 2017 10:50 CET | News

The number of payment cards compromised at merchants and ATMs monitored by FICO rose 70% in 2016, in US, according to the company’s latest report.

Not only payment cards, but also card readers were hacked, with the number of exposed devices at US ATMs, restaurants and merchants rising 30% in 2016. These figures recorded in 2016 set a new high for the FICO Card Alert Service, according to the company’s statements.

As in 2015, the most compromises occurred at non-bank ATMs, such as those in convenience stores. About 60% of compromises were at non-bank ATMs, with the rest occurring at bank ATMs or point-of-sale (POS) devices, such as card payment machines at retailers. These figures cover only card fraud occurring at physical devices, not online card fraud.

The average duration of a compromise continued to fall — on average, an ATM or POS device would be compromised for 11 days, compared to 14 days in 2015. The 2016 average duration is less than a third of the average duration in 2014, 36 days. The average number of cards affected by a single compromise was cut in half.


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Keywords: FICO, ATM fraud, card fraud prevention, study, US, POS, security
Categories: Fraud & Financial Crime
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Countries: World
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Fraud & Financial Crime






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