Skimming remains the most prevalent type of ATM crime and a concern for financial institutions (FI), writes the security product company Diebold.
It’s announced Diebold ActivEdge, which it calls the first complete anti-skimming card reader. The makers claim that it prevents all known forms of skimming, as well as other forms of ATM fraud.
The product counteracts skimming technology that 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. A shift of 90 degrees is all it takes, the makers say. Their product requires card users to insert their cards long-edge, making it impossible for skimmers to capture the card’s information.
From a survey done in Europe, North America and Latin America the product firm claims that most consumers did not mind changing their card insertion behaviour in return for safer and more secure transactions.
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. The ActivEdge card reader is the greatest weapon in the fight against card fraud and will enable financial institutions to guarantee consumers highly secure ATM transactions.”
Diebold says that its ActivEdge encrypting read head prevents criminal modifications to the card reader. Its encrypted communication to the ATM’s central processing unit eliminates the ability to fraudulently capture and track card data. Each reader is paired with a specific ATM, precluding installation of fraudulent readers. To counteract card trapping and fishing attacks, the product features automatic gate-locking, which prevents fraudsters from freeing trapped cards.
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