ATM related fraud incidents rose 15% in the first six months of 2015 when compared to the same period of the last, mainly due to rise in card trapping and transaction reversal fraud, according to a report published by European ATM Crime Report from the European ATM Security Team (EAST).
The study found that ATM related fraud attacks surged to 8,421 in the first half of 2015 from 7,345 in the year ago period, driven by an increase of 18% in card trapping attacks and 985% in transaction reversal fraud attacks.
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However, card skimming incidents dropped 18% to 1,986 from 2,425 in the first half of 2014, while domestic skimming losses were up by 11% over the same period.
Losses owing to ATM related fraud attacks increased 18% to EUR156m from EUR132m in the first half of 2014, mainly owing to an 18% rise in international skimming losses.
The Asia-Pacific region, in particular Indonesia, as well as the US recorded majority of such losses, the report pointed out.
ATM related physical attacks increased by 19% versus the first half of 2014, with a 1,013% rise in reported robberies. Losses due to robbery increased to EUR10.5m from EUR0.4m.
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By GlobalDataMeanwhile, losses due to ATM related physical attacks increased 100% to EUR26m from EUR13m in 2014.
The first half of 2015 also witnessed 5 ATM malware incidents, with related losses of EUR0.14m.
EAST executive director Lachlan Gunn commented: "International skimming losses have risen for the past four reporting periods and EAST is working closely with Europol to raise awareness of this issue in Asia-Pacific and the Americas."
