Tag: Operations Risk

10 Steps To Stop The Rise of ATM and Debit Card Fraud

Slowing ATM and Debit Card Fraud

New data out from FICO shows that physical debit card fraud in the US jumped 70% in 2016. That is because there is not only more debit card usage, but that usage has driven criminals to use more fake card readers to nefariously skim debit card information. Last year, hacked card reader crimes rose 30%. Most of the card fraud comes from ATMs, of which over 66% are owned by non-banks. Over the last several years, that puts card fraud at ATMs up an astonishing 546% according to FICO.

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