There have been roughly 40 incidents of skimming or POS attacks reported so far in 2010. They range from tried-and-true ATM skimming to insider crimes and the troubling new trend of pay-at-the-pump thefts.
While deposit fraud at the ATM has remained stable for the last three to four years, the ability for fraudsters to commit these crimes is significantly reduced when ATMs move to imaged or automated-deposit platforms.
Journalists cannot lose perspective. I was reminded of this point last week, after delivering a brief presentation to a small group of community banks and credit unions.
"Not having the technical expertise, you rely on the manufacturer to help you with something like this - to stay one step ahead of these problems." - Lilia Rojo, SCE Federal Credit Union
If an ATM can be hacked effortlessly during a conference presentation, then how vulnerable to fraud are these devices when deployed by banking institutions and merchants?
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