Diebold and Wincor Nixdorf create ATM security association
08 July 2014 | 8171 views | 0
Cash machine manufacturers Diebold and Wincor Nixdorf have joined forces to found an association that will work to improve ATM security.
Despite regular pronouncements on the imminent demise of cash, the number of ATMs worldwide is set to increase from 2.6 million to 3.7 million in 2018, according to Retail Banking Research. Given this, it is "plausible" that related criminal activity will also be on the rise, say Diebold and Wincor.
The partners are inviting banks and their fellow manufacturers and IT suppliers to join them in tackling the threat by improving industry communication and information sharing.
More concrete measures are also envisioned, including the creation of industry-wide norms in the form of agreed technical standards for secure ATMs and ATM components.
The association will be implemented under Dutch law and offer members a protected and secure register of detailed information on recognised attack scenarios and potential threats, along with recommendations on how members can prevent and deal with them.
Diebold and Wincor argue that this approach will particularly benefit banks whose networks include ATMs from different manufacturers, making the task of coordinating the introduction of new security much easier.
Andy Mattes, president and CEO, Diebold, says: "Today's announcement represents the first step in an industry-wide effort intended to help ensure the ATM remains a safe, secure option for consumers to confidently conduct any financial transaction they choose - now and well into the future."