SAN JOSE, Calif.—Another example of how crooks will turn to the path of least resistance, U.S. ATM card fraud is rising markedly as retailers attempt to tighten security at POS.
Crooks are skimming ATM cards at the highest rate in two decades, FICO told the Wall Street Journal.
The crime is increasing at financial institutions’ machines, as well as at independently owned cash kiosks in shopping centers, convenience stores and restaurants.
From January to April 9, 2015, ATM card skimming reached the highest level for that period in at least 20 years, FICO told the publication.
Debit-card compromises at ATMs located on FI property increased 174% from Jan. 1 to April 9, compared with the same period last year, while successful attacks at nonbank machines soared by 317%, according to FICO.
“These tremendous spikes in fraud are unprecedented,” said John Buzzard, who manages FICO’s card-alert service, told The Wall Street Journal.