Report: ATM/Debit Card Fraud On The Rise

This will be no surprise to anyone who really reads all the breaches reported on this site, but Kelly Jackson Higgins of Dark Reading reports:


Nearly 70 percent of the [161 financial services] respondents to the survey, conducted by antifraud firm Actimize, said they had experienced an increase in ATM/debit card fraud claims in 2008 compared to 2007. Around 23 percent said those claims jumped by 5 to 9 percent; around 16 percent, by 10 to 14 percent; 17.5 percent, by 15 to 19 percent; nearly 9 percent, by 20 to 24 percent; 11 percent, by 25 to 49 percent; and 5 percent, by a whopping 50 to 74 percent.

Half of the institutions had been hit with fraud complaints that came out of some of the major data breaches, with more than 30 percent saying they had seen fraud incidents as a result of the TJX hack, and 30 percent out of the Heartland Payment Systems hack.

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