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News Flash: ATM Fraud in the US Jumps Sixfold

Blog: Enterprise Decision Management Blog

ATM with Hacked stamp

The FICO® Card Alert Service has just released some startling stats: The number of ATMs in the US compromised by criminals rose 546 percent in 2015 over 2014. This marked the highest number of ATM compromises we have ever recorded.

The biggest targets were non-bank ATMs, such as those in convenience stores, where 10 times as many machines were compromised as in 2014.

We first blogged about sharp growth in ATM fraud last May, and the trend we saw then has only gotten worse. It has also taken on some new patterns: shorter compromises with fewer cards. The average duration of an ATM compromise fell from 36 days in 2014 to 14 days in 2015. The average number of cards affected by a compromise was cut in half.

You can read more about this “quick-hit” approach to fraud in our news release, and in the story just published in the New York Times.

For cardholders, we suggest increased vigilance. Here are some tips:

FICO Card Alert Service covers hundreds of thousands of ATMs in the US. We’ll continue to monitor the trends we see and help banks respond swiftly to protect their cardholders.

Interested in more? Find me on Twitter @FraudBird.

The post News Flash: ATM Fraud in the US Jumps Sixfold appeared first on FICO.

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