Global ATM leaders initiate concerted effort to curb fraud and establish industry-wide security measures
Paderborn, Germany, 2014-7-10 — /EPR Retail News/ — As automated teller machine (ATM) networks have expanded worldwide, so has the sophistication of global crime. The combination of these factors has led to intensified security concerns at the ATM. Combating this issue requires consistent focus and global defense solutions throughout the ATM provider chain.
In order to further develop these solutions, Diebold, Incorporated (NYSE:DBD) and Wincor Nixdorf AG will found an industry association dedicated to improving ATM security. Through the association, the companies – two of the world’s top ATM producers – aim to compile information on recognized and potential attack scenarios on ATMs and share that information with specific industry groups to rapidly develop and implement counter-measures at a global level. Participation is open to institutional operators – primarily banks and IT service providers – global ATM manufacturers and their suppliers.
The ATM market is set to continue expanding. According to a forecast by global industry research firm Retail Banking Research (RBR), the number of ATM systems will increase worldwide to 3.7 million by 2018, compared with the current figure of around 2.6 million. Given this anticipated increase, it is plausible to expect the level of criminal activity associated with ATMs will also grow.
“ATM fraud is a worldwide challenge, and with the anticipated expansion of both the ATM market and ATM-related crime, the time has come for those organizations whose business operations depend on ATMs to take concerted action at the global level. They are best placed to establish a ‘transmission forum’ for secure ATMs, since no one else can respond as quickly or as directly when it comes to implementing the right counter-measures,” observed Eckard Heidloff, President & CEO of Wincor Nixdorf AG.
In setting up the association, Diebold and Wincor Nixdorf are looking to create a platform that not only shares information, but promotes interactive discussion amongst ATM industry stakeholders for the security of the ultimate consumer. Other global ATM manufacturers are especially invited to join the group, as this will help increase the scope and effectiveness of its work and quicker deployment of countermeasures. The association also intends to establish industry-wide norms in the form of agreed technical standards for secure ATMs and ATM components. The association will be implemented under Dutch law and will offer its members a protected and secure register of detailed information on recognized attack scenarios and potential threats, along with industry recommendations on how members can prevent and deal with any such attacks.
The aim of the association is for banks and other users to be able to draw on a uniform set of readily available and thoroughly reviewed solutions if they so choose. Accordingly, membership of the association will primarily be of interest to banks whose networks include ATMs from different manufacturers, as this will make the task of coordinating the introduction of new security solutions much easier.
“Given the great strides our industry has made with advancements in various technologies that consumers value at the ATM, it’s time that we collectively and effectively combat the impact that technically sophisticated global crime has had on the ATM channel,” said Andy W. Mattes, Diebold president and chief executive officer. “Today’s announcement represents the first step in an industry-wide effort intended to help ensure the ATM remains a safe, secure option for consumers to confidently conduct any financial transaction they choose – now and well into the future.”
Organizations interested in participation or seeking more information regarding the ATM security industry association may contact email@example.com.