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US Debit Card Compromises Up 39%: FICO
FICO reports an increase in the number of compromised debit cards, ATMs, and point-of-sale devices in the first six months of 2017.
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Compromises of ATMs and point-of-sale (POS) devices rose 21% in the US during the first six months of 2017, compared with the same timeframe one year prior. The number of compromised debit cards rose 39% in the same period, reports software firm FICO.
FICO's Card Alert Service monitors ATMs and card readers in the US, and its findings indicate the number of compromises is on pace to set a record high. FICO vice president TJ Joran, who manages FICO's fraud solutions, says the rate of fraud pattern changes has accelerated in the last 24 months.
The spike in card compromise should serve as a reminder to cardholders to use caution when using ATMs. FICO offers the following guidance:
If an ATM looks suspicious or your card doesn't enter the machine smoothly, consider getting cash elsewhere.
Never approach an ATM if someone is lingering nearby, and don't chat with anyone around the ATM.
If your card is captured inside the ATM, immediately call your issuer to report it.
If you suspect your card may have been compromised at a merchant or ATM, ask your card issuer for a new number and ask about account alert technology.
Read more details here.
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