European banks losing millions to ATM criminals
Research claims that skimming devices installed in ATMs across Europe caused European banks to lose €211 million ($232 million) to criminal organizations last year.
Losses brought on by malware planted on ATMs, according to the European Association of Secure Transactions (EAST), a trade association of banks and ATM providers, were only €140,000 ($154,000).
This is the lowest number recorded since EAST began keeping data. According to the organization, there were fewer "ATM malware and logical attacks" (from 52 to 31), all of which were "black box attacks," with the exception of one.
The connecting of an unauthorized device to the cash machine is known as a "black box attack" read more European banks losing millions to ATM criminals.
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