Terminal fraud attacks were up 35% in Europe, according to research by The European Association for Secure Transactions (EAST).
Terminal related fraud attacks increased from 13,511 to 18,217 incidents, mainly driven by an 87% increase in ATM transaction reversal fraud attacks (up from 4,843 to 9,054 incidents), while card skimming incidents fell 21% to an all-time low (down from 1,883 to 1,496 incidents).
EAST Executive Director Lachlan Gunn commented: “Despite the overall rise in terminal fraud incidents, total reported losses were almost unchanged. Transaction reversal fraud losses did rise from €2.6 million to €5.2 million, but the continued drop in skimming incidents has helped to keep the overall loss position stable.”
Total losses of €249 million were reported, up 1% from the €247 million reported in 2018. Overall losses due to card skimming were unchanged and losses due to card trapping were down by 14% (from €2.9 million to €2.5 million).
ATM related physical attacks were up 0.5% (from 4,579 to 4,571 incidents). While attacks due to ram raids and ATM burglary were down 11% (from 1,256 to 1,122 incidents) and ATM explosive attacks (including explosive gas and solid explosive attacks) were down 7% (from 1,052 to 977 incidents). Losses due to ATM related physical attacks were €22 million, a 39% decrease from the €36 million reported in 2018.
A total of 140 ATM malware and logical attacks were reported, down from 157 in 2018, an 11% decrease. All the reported attacks were ‘cash out’ or ‘jackpotting’ attacks. In 118 attacks equipment typically referred to as a ‘black box’ was used, and malware was used in the other 22 attacks. Related losses were up 142%, from €0.45 million to €1.09 million.
