As more criminals target branch ATMs, industry experts wonder if links to insider fraud might not be to blame. Recent brazen attacks prove even in a bank or credit union lobby, ATM skimming can strike.
As more criminals target branch ATMs, industry experts wonder if links to insider fraud might not be to blame. Recent brazen attacks prove even in a bank or credit union lobby, ATM skimming can strike.
"I think this is another great example of the lengths to which criminals will go to perpetrate these schemes, and the amount of homework they do," says Julie McNelley, banking and payments fraud analyst at Aite Group.
Two stories stand out when I look back on the month of May: the POS PIN pad swap scheme that hit Michaels crafts stores in more than 20 states and the insider job at Bank of America that led to $10 million being stolen from some 300 customer accounts.
The fate of pending regulations, an upcoming HIPAA Security Rule compliance toolkit and a crackdown on records snoops were among the most popular news items on HealthcareInfoSecurity in May.
Technology to fight ATM skimming continues to advance, but so do the threats. Fraudsters have devised new ways to work around - if not defeat - new anti-skimming solutions, say industry experts who point to global ATM fraud trends.
One of the most significant conferences of the year devoted to healthcare information security issues will be held next week in Washington, and we'll be providing full coverage.
In his first three weeks on the job, Farzad Mostashari, M.D., national coordinator for health information technology, made good on his pledge to improve communication in his office.
This kind of problem happens to everybody, says Marcus Ranum, CSO of Tenable Network Security, in response to the widely publicized breach at RSA. And maybe hes right. Perhaps this kind of problem does happen to everyone. But should it?
Skimming remains the top threat to ATMs worldwide, but certain regions are also seeing a rise in logical security breaches - malware - according to Chuck Somers, VP of ATM Security and Systems with Diebold, the global ATM supplier.
Banking/security leaders aren't crazy about banking regulators telling them they could have done a better job detecting ACH fraud, and they're eager for more specific guidance on what to do going forward.
Skimming remains the top threat to ATMs worldwide, but certain regions in Europe and Latin America are also seeing a rise in logical security breaches. Bottom line: ATMs are under attack.
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