ATMs are a growing target of a wide range of criminal attacks. In Europe, physical incursions on ATMs rose 27% from 2017 to 2018. Similar incidents are now increasing in the United States. The recession caused by COVID-19 is giving criminals more time and desperation to seek and exploit vulnerabilities.
In addition to physical threats to ATMs, sophisticated information technology (IT) incursions are real and all-too-common. For example, flash attacks rely on internationally coordinated efforts to simultaneously withdraw funds from multiple ATMs using cards created from copied details.
Now is the time to update your ATM security practices to account for heightened criminal interest and sophisticated new methods of attack.
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Leo Castagnera
Dr. Jim Castagnera