22 October 2017
Register now

Diebold takes 90-degree shift to counter ATM skimming

24 February 2015  |  6186 views  |  0 Diebold anti-skimmer

ATM manufacturer Diebold claims to have found the answer to skimming fraud with a new reader that requires users to insert their card sideways on to prevent the copying of data stored on the magnetic stripe.

Diebold ActivEdge counteracts skimming technology that currently relies on the ability to read the magnetic stripe of an ATM card in the short edge orientation, by altering the way the card is inserted and read.

Estimated losses from skimming attacks at the ATM are believed to run beyond $2 billion globally, as the criminal fraternity has cranked-out increasingly sophisticated card reader overlays to capture information stored on the mag-stripe.

Diebold says ActivEdge prevents criminal modifications to the card reader and uses encrypted communication to the ATM's central processing unit to eliminate the ability to fraudulently capture and track card data. In addition, each reader is paired with a specific ATM, precluding installation of fraudulent readers. To counteract card trapping and fishing attacks, ActivEdge features automatic gate-locking functionality, which prevents fraudsters from freeing trapped cards.



The vendor says customer tests showed users did not mind changing their card insertion behaviour in return for safer and more secure transactions and were able to quickly determine the proper way to insert the card.

Bassem Bouzid, senior vice president and managing director, Diebold Emea, says: “Skimming devices have become more sophisticated and it was crucial to find an innovative solution to stop this type of fraud, which, today, represents the majority of overall ATM-related fraud, and restore consumers’ confidence in ATM transactions."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Thieves use iPod nano in low-tech ATM skimming fraud

Thieves use iPod nano in low-tech ATM skimming fraud

21 January 2015  |  9663 views  |  1 comments | 8 tweets | 10 linkedin
Chase ATM skimmer jailed for 5 years

Chase ATM skimmer jailed for 5 years

01 August 2012  |  5579 views  |  1 comments
DBS reacts to skimming with SMS alerts for ATM withdrawals

DBS reacts to skimming with SMS alerts for ATM withdrawals

18 January 2012  |  5979 views  |  0 comments
Man arrested over $1.5m New York ATM skimming scam

Man arrested over $1.5m New York ATM skimming scam

09 January 2012  |  7426 views  |  1 comments
Crooks use 3D printers to make ATM skimmers

Crooks use 3D printers to make ATM skimmers

23 September 2011  |  10636 views  |  0 comments
US cybercrime czar falls victim to skimmers

US cybercrime czar falls victim to skimmers

05 September 2011  |  8249 views  |  3 comments
US charges four over sophisticated $1.5m skimming scam

US charges four over sophisticated $1.5m skimming scam

10 June 2011  |  8067 views  |  0 comments
Dublin ATM skimming gang jailed

Dublin ATM skimming gang jailed

11 February 2011  |  12622 views  |  0 comments
NAB taps liquid encryption number tech to beat skimmers

NAB taps liquid encryption number tech to beat skimmers

23 June 2010  |  14255 views  |  0 comments
Romanian police bust ATM skimming factory

Romanian police bust ATM skimming factory

04 June 2010  |  14678 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.innotribe.comvisit www.niceactimize.comvisit www.vasco.com

Top topics

Most viewed Most shared
HSBC partners Bud for open banking trialHSBC partners Bud for open banking trial
10484 views comments | 22 tweets | 26 linkedin
Mastercard to roll out blockchain APIMastercard to roll out blockchain API
10008 views comments | 17 tweets | 24 linkedin
satelliteGates Foundation backs Ripple collaboratio...
9062 views comments | 13 tweets | 10 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
8133 views comments | 9 tweets | 17 linkedin
Sibos 2017: API or the highwaySibos 2017: API or the highway
7917 views comments | 10 tweets | 22 linkedin

Featured job

to £70K base, £105K ote, benefits
London, UK

Find your next job