The American Bankers Association’s nation-wide bank robbery database, known as ABA Bank Capture, has a new interactive feature that allows subscribers to input ATM crime data — including ATM skimming — providing even more actionable intelligence to help reduce financial crime.
“ATM skimming can be a costly crime for banks, and it’s becoming more and more sophisticated,” said Doug Johnson, senior vice president, payments and cybersecurity policy at ABA. “Studies show that criminals steal ten times more money in the average skim versus the average bank robbery. This new feature will be an incredibly helpful tool to help banks track patterns of criminal activity and effective preventative measures.”
To “skim” an ATM, thieves rig the machine with a device that can steal a customer’s card data and PIN number. The crook can then use the data to make a counterfeit card and withdraw money from the associated bank account. New security features, including chip card readers, will also help fight skimming.
Other ATM crimes tracked by the system include jackpotting (using malware to force the ATM to dispense cash), card trapping (trapping the card in the ATM so the criminal can steal it), shimming (similar to skimming but with an internal reader) and vandalism.
The database currently collects crime data, including robberies and ATM crime, from nearly 60 percent of the nation’s 91,000 bank branches. Reported by subscribing banks, the data is collected and analyzed, then made available to participants. ABA Bank Capture aggregates data in real-time, allowing banks to access information on incidents as they are reported.
The program is designed to help banks:
- Get timely robbery and ATM crime alerts;
- Benchmark against their peers;
- Identify criminal activity trends and patterns;
- Assess effectiveness of security controls; and
- Better allocate resources to help prevent loss.