Three Reasons Skimmers Are Winning
Banks and credit unions say that losses linked to card-skimming and other sources of debit card fraud are increasingly concerning.
Arrests and financial losses linked to skimming continue to add up. Why do many institutions struggle to thwart attacks waged against ATMs and the vestibules that house them?
Mike Urban, a financial fraud expert with Fiserv, a core processor that provides security services to financial institutions, says anti-skimming technologies just can't keep up.
Beyond outdated card technology, a number of factors have contributed to ATM skimming's success. Cardholder behavior, outdated or ineffective anti-skimming technology and too many endpoints are the top three, experts say.