New ATM card skimming detection technology
Diebold released its new Advanced Skimming Detection technology for automated teller machines. This fraud-deterrence technology engineered into Diebold's Opteva ATMs is the most effective method to guard against card skimming, the act of retrieving consumers' account information from their ATM card magnetic strips via a fraudulent device illegally attached to an ATM. According to Celent research analyst Red Gillen, total skimming losses account for about $1.2 billion a year worldwide.
An element of Diebold's S.A.F.E. (Secure Anti-Fraud Enhanced) ATM, the detector features a highly sophisticated proprietary detection algorithm that allows the sensor to discriminate between different types of skimmers, environmental factors and cardholder activity and ultimately reduce false alarms. Ken Justice, Diebold vice president, global self-service marketing and management, explained that when a skimmer is attached to an ATM, the new detector sends out an alert, which financial institutions can direct to either the branch alarm system or to the ATM network monitoring system.
