Any thoughts about skimming future?

[Ninja]

Here is little article:

European ATM Fraud Losses Down 36%
EAST

EAST has just published a European ATM crime report covering the full year 2009. 23 countries with an installed base of 368,559 ATMs supplied full or partial information for the report.

The report shows a 36% drop in ATM related fraud losses in 2009, with total losses of ?312 million reported. Annual losses due to card skimming have fallen for the first time since EAST began reporting in 2004 (down from ?484 million in 2008 to ?310 million in 2009). Despite the overall European figure, nine countries reported an increase in such losses, in some cases a significant increase.

International losses due to skimming attacks fell by 43%, continuing a downward trend for each six monthly reporting period first noticed at the end of 2007. This is further indication that the EMV rollout at ATMs in Europe (now 94% complete) is helping to reduce skimming losses, and also that fraud counter-measures, fraud monitoring capabilities and fraud detection continue to improve. Losses continue to be reported globally, and the risk of counterfeit EMV cards being used to withdraw cash fraudulently from ATMs in parts of the world that are not EMV compliant remains.

Despite this drop in losses, overall ATM related fraud attacks rose 8% with a total of 13,269 incidents reported. This rise has been led by a 209% increase in the number of cases of card trapping while the total number of skimming incidents reported decreased by 1% over the same period. EAST first reported an increase in card trapping incidents at the end of the first six month period in 2009 and the figures for the second six months have shown a further increase. Assuming the PIN has been compromised, a captured EMV card can be fraudulently used at EMV compliant ATMs and other payment terminals, until it is blocked by the issuing bank.

Physical attacks on European ATMs, have fallen by 2% when compared with 2008 (down from 2,520 to 2,468 incidents), primarily due to a decrease in the number of reported ram raids and ATM burglaries. Despite this drop in incidents, overall losses rose 7% to ?28 million (up from ?26 million in 2008). Attacks on staff involved in the cash replenishment and servicing of ATMs rose by 40% (from 365 to 510 incidents) although the number is still well below the 1,950 cases reported in 2007

As we see they report what 94% of ATMs in Europe is EMV compilant. So all of them reading chips.
I think what skimming will be alive untill the end of this year, no more. Soon if ull be able to get 201 dump from skimmer it will be unavailable to cashout because of lack of ATMs which not read chip.

Im talking about Europe, coz usa not bother about chips that much.

Any thoughts?

 

[123123123]

Indeed but scammers are already ahead of this. For reading chip I have seen 3 devices. First is where there is added rubber mold on skimmer so user has hardtime pushing card in as it goes slower, then atm yanks card in giving enough time to read. Second is bigger housing where card is pulled in, stopped and then fed into machine. The last one more economical is where the skimmer has interswipe technology as once you insert, the skimmer pulls it out before it enters to read and pushes it back in, then the atm pushes it out and pulls it back in (a bit funny to watch). But the reality is that it will eventually be adapted to not just reading the card chip before and after it enters the machine, but not having to worry about any stopping at all.

 

[cr33k]

If there's a will there's a way.

Carder's will always win.

 

[Skimmer4Sale]

312million euro is very small amount for 23 countries. If it's shared equally this means each country has 13,5M eu for year and abot ~1M eu for each month. It's very small amount for a country. There are lots of organizations at each country and the whole network at that country can put about ~1M eu to their pocket.
I would really want to see a graph of countries with amounts.
Soon or late we must to use chip reading devices for skimming. But the market goes on classic devices for now.

 

[diego3119]

do you guys think that usa might change its credit card plastic system in the near future? by this i mean that it won't change from a regular plastic to plastic with chip as in the uk or similar
why haven't they done this yet?
i mean it's better for me, more opportunity, but i ask myself why haven't they done this if it prooves to be more effective

 

[basetrader]

del........................

 

[Ninja]

basetrader
U're right.
Me thinking about that serious.

 

[basetrader]

del...............

 

[rickard]

MMMM lower prices buyers can't complain. I'm sure someone will come up with something to rival the c+p and it will be business as (un)usual.

 

[bucky]

Australia is expected to go full chip and pin by 2013 so have a few more years of instore here.