Card skimming is a high-tech way for savvy criminals to capture personal data from the magnetic stripes on credit, debit or ATM cards and even driver's licenses or passports. The problem has expanded worldwide with reports of skimming across the U.S., Europe, Russia, South Africa and Australia.

Losses from this electronic crime dwarf the losses from a typical bank robbery and are much harder to investigate. The U.S. Secret Service reports $8.5B in annual U.S. credit card fraud losses, including ATM skimming. In Europe, losses are estimated at more than 350 million Euros a year. More than 3 million victims reported an ATM skimming crime, with a cash loss average of $1000 per incident. Far more than the monetary losses, however, are the reputational damages financial institutions incur with their ATM customers.

It's no surprise that skimming losses are growing, given the world's 1.5 million ATMs and similar numbers of retail Point-of-Sale devices in stores and petrol station pumps. All thieves need is a palm-sized electronic reading device called a "skimmer" that can be bought over the Internet. They then create a housing for the device that installs over the ATM's card reader or the ATM's entire front fascia. When unknowing customers insert their bank cards, the skimmer reads their card information without the cardholders recognizing that their personal financial information has been compromised or stolen.

Illegal skimming devices can capture data on up to 2,000 cards. Criminals often hide tiny wireless video cameras along with the skimmers, so they can also record the customers' personal identification numbers. Once a card is swiped through a skimmer, personal information contained on the magnetic strip is read and stored on the device or transmitted wirelessly to the criminals. With the card data, they can conduct transactional fraud, create new credit cards with the stolen identity and personal information, or sell the cardholder data on the black market.

In 2007, Tyco Integrated Security first began to offer anti-skimming technology, known as CPK (Card Protection Kit), for bank ATMs in Europe. In March 2009 Tyco Integrated Security offered a next-generation solution to North American financial institutions to help them protect their sizeable ATM networks.

The Tyco Integrated Security Anti Skim™ ATM Security Solution utilizes proven CPK technology, not only helps prevent skimming attacks from taking place, but also helps detect and alert the presence of skimming devices on ATMs. The solution installs inside an ATM and emits a constant electromagnetic pulse that can prevent card-skimming devices from successfully reading a card's magnetic stripe data.

In case of an attack, Tyco Integrated Security Anti Skim™ ATM Security Solution's helps provide added protection by integrating a specific alarm signal and/or video surveillance sequence to invoke a timely response from Tyco Integrated Security's or the bank's own monitoring command center.

One advantage of the Anti Skim solution is its universal effectiveness. CPK anti-skim technology functions with all ATM types and any ATM make or model, no software upgrade is needed, and there is no interruption of ATM service. Installation is relatively simple, with no external signs of the solution at work. Most important to the growing retail banking ATM networks, the solution promotes the mitigation of the crime of ATM card skimming, helping safeguard ATMs and especially ATM customers from loss and fraud. Our Anti-Skimming Solution portfolio features a wide range of models, depending on the ATM or sales terminal needing protection. All models are modular and can be upgraded to provide additional levels of protection. Learn more about the Anti Skim™ ATM Security Solution.

 

Related Insights

  • The Risks Of "One Size Fits All" Security

    The Risks Of "One Size Fits All" Security

    Security concerns differ from industry to industry. So why do many businesses settle for one-size-fits-all security systems? Discover the potential threats to businesses such as car dealerships, restaurants and retailers, and the ways you can better protect against them. >

  • TycoIS: Roadmap to Integration

    TycoIS: Roadmap to Integration

    With so many moving parts to a company, organizing and securing business processes can be a daunting task. TycoIS provides fully integrated solutions to help optimize and protect your business, helping you work safer and smarter. Watch Now >

  • Why Tyco Integrated Security?

    Why Tyco Integrated Security?

    TycoIS is dedicated to helping you protect your business. Learn more about our integrated solutions and products, giving you safer and smarter ways to secure your business. Watch Now >

  • Why Security Technology Is Worth Your Investment

    Why Security Technology Is Worth Your Investment

    Taking strides towards economic recovery is a slow moving process. Since increased crime is a common impact of financial downturn, businesses are learning how to protect themselves. Learn about the most effective loss-prevention tactics, how you can maximize your cost-efficiency and ultimately mitigate risk. >

  • Security Tools And Their Unexpected Uses

    Security Tools And Their Unexpected Uses

    As a small-business owner, you have many tasks on your plate and are often short on time. The latest security tools can give you a valuable look into your business. Learn ways to leverage security resources as part of your company’s overall business strategy, and use the insights to help you run a safer and smarter business. >

  • Five Reasons To Use Mobile Security Management Applications

    Five Reasons To Use Mobile Security Management Applications

    Mobility has become integral to modern business. Small-business owners appreciate the flexibility, freedom and control it gives them, especially when off site. This white paper highlights five reasons to adopt the next generation of mobile security applications, and it outlines the capabilities that enable you to maximize your time and resources. >

  • The Challenges To Safeguarding the Pharmaceutical Supply Chain

    The Challenges To Safeguarding the Pharmaceutical Supply Chain

    As pharmaceutical supply chains become increasingly outsourced and global, it’s no longer adequate to review security when issues arise. Discover why many pharmaceutical companies are turning to proactive strategies to assess and respond to threats. >

  • Fighting Back Against Workplace Violence

    Fighting Back Against Workplace Violence

    Workplace violence is a serious and real concern, as it can include bodily harm, psychological effects, strains on employee health and possibly even result in loss of life. This white paper outlines the behaviors to recognize and the proactive security measures you can take to protect your employees and customers. >

  • How Remote Security Management Gives Small Business Owners Control and Freedom

    How Remote Security Management Gives Small Business Owners Control and Freedom

    The freedom that comes with owning a small business is not without worry. Staying on top of issues such as theft or burglary used to require putting in long hours or driving back to your business when an issue arose. No more. Learn how easy-to-use technology can contribute to the success of small business, giving you the tools to check on your business from any location and at any time. >

Request A Call Now For Your Free No Obligation Quote

Tell us about yourself

*Required

By submitting this form, you authorize Tyco Integrated Security, LLC/Tyco Integrated Canada, Inc. ("Tyco") to contact you using automated technology to provide information about products and services which may be of interest to you. You can withdraw your consent at any time. Please refer to our Privacy Policy.