Atm Security
ATM Security in Africa
Introduction
• The ATM has brought an interesting new dimension to the lifestyle of the African, enabling self service
• However, the diffusion is still low in Africa
• Nigeria fastest growing globally: from 26 ATMs in 2003 to about 7,000 ATMs by December, 2008
• Ghana making appreciable stride with the entrance of Nigerian banks
• South Africa and Egypt leading in installed base
Generally, ATMs
• Brings convenience, speed and control to customers • Extended service hours, new revenue, lower cost to banks • No need to carry idle cash
ATMs in Africa
• Self Service
• Mostly cash dispensing
• Bill payment
• Funds Transfer
• Air time vending
• Currency exchange
• Cash & Cheque Deposit
• Account enquiry
• Statement printing
• PIN change
• Drive Through ATMs • Electronic Branches • Mobile ATMs
Despite these benefits, with deployment come security issues.
Security Issues
• Part of the bigger electronic financial crime
• Most of the issues affecting ATM security in Africa have to do with card fraud and security breaches
• Can be viewed from 2 dimensions
† Direct physical on ATM or
† Customer Card fraud
Direct Physical Attack
• Customer mugging
• Card theft from mail boxes
• Ram raiding using heavy truck and construction equipment
• Blowing up ATM using combustible gas or explosives
South Africa: Reported Cases
• 2008: Over 500
• 2007 figure: 500
• 2006: 56
• 2003/2004 combined: 26
• Pretoria News page 5, Oct 4, 2008: police arrested 400 suspects, ironically representing 1 suspect per incident.
Nigeria: July 21, 2008
• Bank owned NCR ATM located in an eatery
• ATM Vandalised
• No access to cash of N977,500 (approx $8,500)
Card Fraud
• Card Theft
• Theft from mailboxes
• Card trapping using fake card readers
• Shoulder Surfing
• Criminal observes ‘over the shoulder’ or via small video cameras as customer enters card security information
• PIN Interception
Introduction
• The ATM has brought an interesting new dimension to the lifestyle of the African, enabling self service
• However, the diffusion is still low in Africa
• Nigeria fastest growing globally: from 26 ATMs in 2003 to about 7,000 ATMs by December, 2008
• Ghana making appreciable stride with the entrance of Nigerian banks
• South Africa and Egypt leading in installed base
Generally, ATMs
• Brings convenience, speed and control to customers • Extended service hours, new revenue, lower cost to banks • No need to carry idle cash
ATMs in Africa
• Self Service
• Mostly cash dispensing
• Bill payment
• Funds Transfer
• Air time vending
• Currency exchange
• Cash & Cheque Deposit
• Account enquiry
• Statement printing
• PIN change
• Drive Through ATMs • Electronic Branches • Mobile ATMs
Despite these benefits, with deployment come security issues.
Security Issues
• Part of the bigger electronic financial crime
• Most of the issues affecting ATM security in Africa have to do with card fraud and security breaches
• Can be viewed from 2 dimensions
† Direct physical on ATM or
† Customer Card fraud
Direct Physical Attack
• Customer mugging
• Card theft from mail boxes
• Ram raiding using heavy truck and construction equipment
• Blowing up ATM using combustible gas or explosives
South Africa: Reported Cases
• 2008: Over 500
• 2007 figure: 500
• 2006: 56
• 2003/2004 combined: 26
• Pretoria News page 5, Oct 4, 2008: police arrested 400 suspects, ironically representing 1 suspect per incident.
Nigeria: July 21, 2008
• Bank owned NCR ATM located in an eatery
• ATM Vandalised
• No access to cash of N977,500 (approx $8,500)
Card Fraud
• Card Theft
• Theft from mailboxes
• Card trapping using fake card readers
• Shoulder Surfing
• Criminal observes ‘over the shoulder’ or via small video cameras as customer enters card security information
• PIN Interception