Legacy Authentication Vs ATM Jack potters: Countertop ATM

Jackpotting is becoming a more and more popular method among criminals. It allows malicious software and/or hardware to be installed onto ATMs. As a result, the machines spit out cash. Where to find a secure payment processor that can best protect your payment transactions? Who can help you get a secure countertop ATM? This article will tell you where and how.

ATM Jackpotting

The banks across Europe and Asia already know what this type of threat means. In the US, the first jackpotting attack occurred in January 2018. Now, US financial institutions and ATM operators are faced with ATM jackpotting, which is rather alerting.

Cybercriminals are now attacking ATMs. In fact, these machines have a lot of cash on hand and don’t have the necessary level of security.Attackers are even using phishing strategies based on SMS to target new cardless ATMs. As a result, they get cash from stolen banking credentials.

Currently, stand-alone ATMs in pharmacies, airports, and large retailers, which are more vulnerable, seem to be the main victims of ATM jackpotting. So, ATM operators and banks in the country are looking for the best ways to stay away from ATM jackpotters.

Protecting ATMs: Best Countertop ATM

Cybercriminals are more and more often targeting ATMs all over the world. They’re using different methods to achieve “success.” The bad news is that the majority of these machines can potentially get victimized because of their high volume of cash on hand and lack of security.

That’s where respectable credit card processing companies step in. A true payment expert can provide you with the most secure, reliable and affordable merchant services, including a countertop ATM. What’s more, with a reputable payment processing company, you can enjoy exceptional fraud prevention and chargeback mitigation services.

In fact, all this started in 2017,when EMV chips began to broadly move fraud from the POS to online and ATM. This resulted in a vivid increase inATM “Skimming” and “Shimming.”The latter is associated with fraudsters altering the ATM device to obtain data from an EMV chip.

Though debit fraud is more widespread as compared to ATM fraud, and both don’t exceed credit card fraud, attacks on ATMs are on the rise. ATM fraud represents 4.6 basis points, debit fraud − 5.6 basis points, and credit fraud − 10 basis points – bps = 1/10th of 1%.

Here’re several important steps that you should take to protect your ATM against jackpotters:

  • Make your ATM more safe and secure
  • Avoid software that can create big risks for your ATM
  • Ensure that the ATM firmware and OS are updated on a regular basis
  • Get enough knowledge on cybersecurity and train your staff
  • Use application whitelisting to block malware executing
  • Issue custom keys and code signing
  • Avoid weak passwords and use two-factor authentication
  • Avoid any compromise regarding the security of ATMs and ATM transactions.

Criminals are becoming smarter and smarter. However, this doesn’t mean you can’t do the same. Start implementing the most advanced authentication solutions and security measures to meet unique use cases. Work only with a secure and reliable processor to get the right protection for your ATMs.

Author Bio:As the FAM account executive, Michael Hollis has funded millions by using countertop ATMsolutions. His experience and extensive knowledge of the industry has made him finance expert at First American Merchant.