“This good news,” said Mike Lee, CEO of ATMIA. “However, the wide range of types of attack, as well as the technologies and tools used by fraudsters, remains a daunting challenge which calls upon us to stay vigilant and cooperate with law enforcement in stamping out crimes targeting ATMs.”

The study, conducted by respected international ATM security expert, Douglas Russell, gives both the big picture of crime facing our industry as well as much detailed information needed to take practical steps to deal with the many specific threats covered in the survey, such as ATM skimming, PIN compromise, deposit-related fraud, cash trapping, dispenser jackpotting, transaction reversal fraud, card trapping, eavesdropping, card data malware, shimming chip card data, network packet sniffing, as well as other network compromise and remote network compromise for card data.

“ATMIA urges all members and stakeholders in the industry to read the 2016 fraud survey and then to consult our online library of international ATM security best practices, free for all ATMIA members, in order to reduce risks of attacks in the new year,” Lee said.

The association is calling on the industry to make a concerted effort in 2017 to implement international ATM security best practices, to stand together in tackling fraud threats and to reach out to local law enforcement agencies.

“Join ATMIA in a strong showing against these highly organised fraudsters by implanting best practice for the whole ATM lifecycle,” Lee concluded. “It would be a great advertisement for the future of our globally trusted technology.”