Security Experts:

ATM Makers Form Association to Combat ATM-based Crime

Two of the world's largest ATM makers have formed a new organization and initiated an industry-wide effort to combat ATM-based crime.

Formed by Diebold and Wincor Nixdorf AG, the ATM Security Association has hopes to improve ATM security and establish industry-wide security measures.

According to the announcement, plans for the association include compiling information on recognized and potential attack scenarios on ATMs that can be shared with industry groups to develop and implement counter-measures.

"ATM fraud is a worldwide challenge, and 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. They are best placed to establish a 'transmission forum' for secure ATMs, since no one else can respond as quickly or as directly when it comes to implementing the right counter-measures," observed Eckard Heidloff, President & CEO of Wincor Nixdorf AG.

According to predctions by research firm Retail Banking Research (RBR), the number of ATM systems will grow worldwide to 3.7 million by 2018, compared with the current number of roughly 2.6 million.

"Given the great strides our industry has made with advancements in various technologies that consumers value at the ATM, it's time that we collectively and effectively combat the impact that technically sophisticated global crime has had on the ATM channel," said Andy W. Mattes, Diebold president and chief executive officer. "Today's announcement represents the first step in an industry-wide effort intended to help ensure the ATM remains a safe, secure option for consumers to confidently conduct any financial transaction they choose – now and well into the future."

Participation is open to institutional operators, including banks, IT service providers, and ATM manufacturers and their suppliers. Organizations interested in participation or learning more about the ATM security industry association may contact: [email protected]

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For more than 10 years, Mike Lennon has been closely monitoring the threat landscape and analyzing trends in the National Security and enterprise cybersecurity space. In his role at SecurityWeek, he oversees the editorial direction of the publication and is the Director of several leading security industry conferences around the world.