NCR Corp. has formed an alliance with the University of Abertay Dundee in Scotland to reduce the estimated $1 billion in annual automated teller machine fraud losses worldwide.

The corporate-academic alliance, announced Thursday, seeks to uncover fraud threats to ATMs before they arise through a method known as "ethical hacking," which occurs when a company contracts with a computer security expert to try to penetrate the company's network to determine whether security holes exist that criminals could exploit.

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