SOURCE: MarketResearch.com

MarketResearch.com

April 19, 2010 09:08 ET

ATM & PIN Fraud: Bank and Consumer Losses Are Becoming More Severe

ROCKVILLE, MD--(Marketwire - April 19, 2010) -  MarketResearch.com has announced the addition of Javelin Strategy & Research's new report "ATM & PIN Fraud: Bank and Consumer Losses are More Severe (and the Problem is Growing)," to their collection of Online Security market reports. For more information, visit http://www.marketresearch.com/redirect.asp?progid=67618&productid=2640858.

The security of ATMs is often taken for granted, with attacks on ATMs largely unreported in the media. Yet such attacks do occur, and appear to be growing in frequency and sophistication. Skimming attacks, the most basic, are being replaced with attacks on the software inside ATMs and ATM networks. Additionally, criminals know how to phish for PINs using SMS text, as well as how to change the PIN on a stolen account via stolen personal information and helpful customer service center representatives to takeover an account. The good news is that ATM vendors are making hardware and software changes, and there is a nascent effort to educate the public about these attacks. This report looks at ATM attacks and mitigation, how ATM PIN fraud affects the consumer relationship, the importance of branding on consumer trust of ATMS, and consumer preferences for advanced ATM authentication.

Topics covered in the report include...

  • What types of attacks are perpetrated by criminals against ATMs? What are the mitigations?
  • Does Triple Data Encryption Standard (TDES) help or hinder security of ATMs?
  • Are consumers aware of the signs of tampered with ATMs?
  • How do fraudulent ATM PIN withdrawals affect the consumer relationship?
  • How many consumers use ATMs?
  • To what extent does branding help foster ATM trust among consumers?
  • What are consumers' most preferred methods of additional authentication at ATMs?

For more information, visit http://www.marketresearch.com/redirect.asp?progid=67618&productid=2640858.

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