Analysis Projects Increase In Card Skimming

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BOCA RATON, Fla. — A new analysis is predicting that fraud stemming from skimming incidents, which saw an uptick in activity in 2010, will increase even more.

ADT Security Solutions said that in particular skimming will occur at ATMs, partly because the U.S. continues to primarily use magnetic-stripe technology rather than the EMB chip standard technology used in Europe. THE ACI Worldwide Card Fraud Guild overall card fraud will continue to escalate, with the loss per incident costing financial institutions and their insurers $30,000 per incident.

 

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