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Tuesday, 12 April 2011

European ATM fraud losses drop again - down 14%

Press Release: Edinburgh EAST (the European ATM Security Team) has reported a 14% drop in ATM related fraud losses in 2010, with total losses of €268 million reported (down €44 million from €312 million in 2009).

This is the second successive annual drop, following on from the 36% fall reported for 2009.

This fall is driven by a reduction in losses due to card skimming attacks, which have fallen for the past six half yearly reporting periods, from a peak of €315 million in December 2007, to the current level of €123 million in December 2010. ATM related fraud attacks fell by 7% with a total of 12,383 incidents reported (down from 13,269 incidents in 2009).

EAST Director and Coordinator Lachlan Gunn said, "The continuing drop in fraud losses is very good news for both cardholders and the industry, and indicates that the significant investment made by the European banking sector into EMV technology, as well as into anti-skimming devices at ATMs, is now really starting to pay off. That being said, these statistics are for Europe as a whole, and seven out of the twenty two contributing countries reported an increase in skimming related losses, a significant increase in some cases. EAST is always urging cardholders to be vigilant when using ATMs and cardholder security tips are provided on the EAST website – the top tip is to shield your PIN when making a transaction ….”

The majority (82%) of ATM related card skimming losses are now international (losses outside national borders by criminals using stolen card details) with most now occurring in countries outside of Europe. The risk of counterfeit EMV cards being used to withdraw cash fraudulently from ATMs in parts of the world that are not EMV compliant remains high and is leading some European card issuers to implement additional security measures.

Physical attacks on European ATMs, have fallen by 16% when compared with 2009 (down from 2,468 to 2,062 incidents). Within this total the number of reported explosive and gas attacks (278) has gone up for the second year in succession, an 88% increase when compared to 2009. Overall losses rose 18% to €33 million (up from €28 million in 2008).

*EMV (also known as ‘chip and PIN’) is an industry standard for Smart Cards and card readers, supported by the European Payments Council and the major payment schemes
A summary of the report statistics under the main headings is in the table below. The full report, with breakdowns for each crime category, is available to EAST subscribers on the EAST website


ATM Related Fraud Attacks 2006 2007 2008 2009 2010 % +/- 09/10
Total reported Incidents 5,784 4,934 12,278 13,269 12,383 -7%
Total reported losses €306m €439m €485m €312m €268m -14%

ATM Related Physical Attacks 2006 2007 2008 2009 2010 % +/- 09/10
Total reported Incidents 2,207 3,550 3,043 2,468 2,062 -16%
Total reported losses €28m €31m €26m €28m €33m +18%

PR blog posted by Penny Haywood Calder at PHPR Ltd, Edinburgh, UK. URL: TV Channel on YouTube: Ltd on LinkedInFollow PennyHaywood on Twitter

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