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FICO: Debit Card Fraud Spiked in 2016

Fico-debit-card-fraud-spiked-in-2016-showcase_image-9-p-2442

ATM Fraud , Fraud , Payments Fraud

FICO: Debit Card Fraud Spiked in 2016 Non-Bank ATMs and Point-of-Sale Devices Hit Hard Jeremy Kirk (jeremy_kirk) • April 3, 2017

Despite a years-long move to shore up the security around payment cards in the U.S., certain types of fraud are on the rise.

See Also: The Cost of Social Engineering: 3.1 Billion Reasons to Pay Attention

FICO, the financial risk and analytics consultancy, says the number of debit cards that were compromised after the hacking of ATMs or point-of-sale devices rose by 70 percent in 2016 versus a year prior.

FICO says it also detected a 30 percent rise in hacked ATMs and POS terminals used by restaurants and merchants.

The statistic comes from companies that subscribe to FICO's Card Alert Service, a paid-for product used by payment card issuers to analyze card purchases en masse to identify fraud trends.

FICO says it also detected a 30 percent rise in hacked ATMs and POS terminals at restaurants and...(continued)

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