Late last year, ATM skimming operations in Maryland, Illinois and Georgia netted thieves more than $120,000.
In January, one Houston area bank reported it lost more than $200,000 to skimming.
And in February, The U.S. Secret Service broke up an alleged ring of ATM skimmers in Massachusetts, announcing the arrests of three suspects -- including one man who was in possession of nearly $100,000.
As one law enforcement officer commented about these crimes: "Word among criminals on the street is that skimming is a much more profitable crime to commit, not only because the amount of money they are able to steal very quickly, but also because it is less likely that they will be detected."
Clearly, ATM skimming has emerged as one of banking's fastest-growing electronic crimes - and at a time when financial institutions can ill afford any further loss of consumer confidence. With over 250,000 bank-managed ATMs in operation throughout North America, banking/security leaders are challenged by savvy cyber criminals with an inventory of readily available skimming technology, executing their ATM fraud action plans upon institutions of all sizes.
How vulnerable are banking operations to ATM skimming attacks? Without an understanding of the crime, the skimming process and proactive protective strategies, virtually any institution - any customer -- could be the next victim.
In this 60-minute session, you will hear keen insight from a U.S. Secret Service agent, a former bank/security leader and a security solutions provider, presenting:
- How Skimming Works -- Detailed examination of the crime, the rapidly-changing skimming technology used on ATMs, and the criminal process of ATM skimmers as documented by federal and local law enforcement.
- Prevention Strategies -- including security and loss prevention strategies deployed in institutions' campaigns to alter skimming's impact on identity theft losses. Learn more about rising direct and indirect costs, notification procedures, loss-cost analysis and prevention-mitigation tactics.
- Emerging Technologies -- that are now a part of effective ATM security practices. Understand the four-step layered security approach that can help banking operations detect and deter ATM skimming crime and fraud losses.