EAST reports on fraud losses

Annual losses in Europe due to card skimming
have fallen for the first time since the European ATM Security Team
(EAST) began reporting in 2004.

The losses are down from €484 million ($646
million) in 2008 to €310 million in 2009. International losses from
card skimming attacks also fell by 43 percent, down from €393
million to €226 million.

These figures indicate that the chip and PIN
(EMV) rollout across ATMs in Europe, now 94 percent complete, is
helping to reduce skimming losses. Fraud counter-measures, fraud
monitoring capabilities and fraud detection also continue to
improve.

EAST has also reported a 36 percent drop in
overall European ATM related fraud losses in 2009, with total
losses currently standing at €312 million. However, despite this
drop in losses, overall international ATM related fraud attacks
rose 8 percent in 2009, with a total of 13,269 incidents
reported.

EAST director and co-ordinator, Lachlan Gunn
said: “EAST reports on global figures for Europe as a whole, and
the situation in individual countries can be very different to the
overall European picture.  For example, eleven of the twenty
three reporting countries reported increases in skimming activity,
and in some cases a significant increase in skimming related
losses, while others reported big falls.”

Physical attacks on European ATMs, have fallen
by 2 per cent, with 2,468 incidents reported, yet overall
international losses rose 7 per cent to €28 million.

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