ATM Networks Join Forces Against Fraud

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7:00 AM EDT July 25th, 2014

ATM networks have joined together to create global defense solutions to fight potential breaches, according to ABA Banking Journal. Together, Diebold, Inc. and Wincor Nixdorf AG will start an industry association to improve ATM security.

The companies’ goal is to gather information on attack scenarios on ATMs and share it with industry groups, developing and putting forth tactics to counteract the attacks worldwide. Institutional operators like banks and IT service providers, as well as global ATM manufacturers and suppliers, can participate in the association.

With the ATM market expanding (there will by 3.7 million, compared to the current 2.6 million, around the world by 2018), criminal activity is also expected to increase.

Diebold and Wincor Nixdorf will start up the association by creating a platform to share information and promote discussion among industry stakeholders.

“ATM fraud is a worldwide challenge,” said Eckard Heidloff, president and CEO of Wincor Nixdorf AG, in the article. “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.”

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