ATM fraud 'fastest-growing crime in Europe'
05/01/2005 - 11:56:56ATM fraud is one of the fastest-growing crimes in most European countries, according to an umbrella body representing Irish financial institutions.
The Irish Payment Services Organisation said 2,377 instances of ATM card "skimming" had been reported across Europe in the first eight months of this year, resulting in losses of almost €46m for European banks.
A further 2,636 instances of ATM card "trapping" were reported, resulting in losses of just over €3m.
"Skimming" is the term used when criminals attach special devices to ATMs to record details from the magnetic strips on ATM cards. A small camera is usually used to find out the customer's PIN.
"Trapping" involves a device that retains the card in the ATM while criminals trick the victim into re-entering their PIN.
