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Tuesday 23 October 2018

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ATM black box attacks continue to rise

Written by Anthony Strzalek
09/10/2017

ATM ‘black box’ attacks in Europe have soared in the first half of 2017, with 114 attacks across 11 countries over the last six months, according to data from the European Association for Secure Transactions (EAST).

This figure is up from the 28 recorded in the first half of 2016, marking a 307 per cent increase. Related losses were up 268 per cent, from €0.41 million to €1.51 million. Black box is the connection of an unauthorised device which sends dispense commands directly to the ATM cash dispenser in order to ‘cash-out’ the ATM.

Overall payment terminal related fraud attacks rose 10 per cent when compared with H1 2016. This rise was mainly driven by an 88 per cent increase in transaction reversal fraud.

The downward trend for card skimming continues with 1,221 card skimming incidents reported, down 22 per cent from 1,573 in H1 2016. This is the lowest number of skimming incidents reported since EAST first began gathering data in 2004.

Losses due to payment terminal related fraud attacks were down 29 per cent when compared with the same period in 2016. Within these totals international skimming losses fell 32 per cent (down from €142 million to €96 million) and domestic skimming losses fell 15 per cent.

EAST executive director, Lachlan Gunn, said: “This sees the continuation of a trend that we first reported in April of this year when we published full year statistics for 2016. Our Expert Group on All Terminal Fraud (EGAF) is actively monitoring all logical threats against payment terminals and against the wider banking infrastructure.”

The 11 countries covered in the European Payment Terminal Crime Report are Austria; Belgium; Cyprus; Czech Republic; Denmark; Finland; France; Germany; Greece; Ireland; Italy; Liechtenstein; Luxembourg; Netherlands; Norway; Portugal; Romania; Spain; Sweden; Switzerland and the United Kingdom.



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