FraudNews
07-01-2013, 10:38 PM
Financial institutes are being warned to institute the newest tools to keep fraudsters from targeting banks and the automated teller machines (ATMs).
Uganda Police recently arrested several Bulgarians and confiscated an assortment of tools – screw drivers, soldering wire, glue, card reader, tool box, laptops and other unidentifiable things - for their part in stealing money from ATMs.
Judith Nabakooba, a spokesperson for the police, said personnel are being trained with the assistance of the Eastern Africa Police Chief Cooperation Organization and Interpool to stave off electronic crime that go after banks and other financial institutions.
Intelligent security solutions for financial intuitions specialist Jude Obitre of Diebold East Africa said the financial sector is not able to afford losing billions of ATM dollars through the crooks. Obitre said the sector is implementing new intelligent and superior technology known as Payment Card Industry Data Standard Security.
He said the new system will have an array of defenses to protect against every kind of attack. The system can protect against sophisticated fraud attempts like PIN interception, card skimming and dispenses trapping.
Computer Point’s Managing Director Anil Kuruvilla said the organization has teamed up with Diebold to assist banks and other financial institutions to beat the fraudsters. Computer Point, he said, will send out the first-line hardware and software product to banks to help them stave off hackers attacks.
This latest technology could alter ATMS into intelligent devices that can handle multiple currency handling and envelope free cash deposit automation.
Uganda Police recently arrested several Bulgarians and confiscated an assortment of tools – screw drivers, soldering wire, glue, card reader, tool box, laptops and other unidentifiable things - for their part in stealing money from ATMs.
Judith Nabakooba, a spokesperson for the police, said personnel are being trained with the assistance of the Eastern Africa Police Chief Cooperation Organization and Interpool to stave off electronic crime that go after banks and other financial institutions.
Intelligent security solutions for financial intuitions specialist Jude Obitre of Diebold East Africa said the financial sector is not able to afford losing billions of ATM dollars through the crooks. Obitre said the sector is implementing new intelligent and superior technology known as Payment Card Industry Data Standard Security.
He said the new system will have an array of defenses to protect against every kind of attack. The system can protect against sophisticated fraud attempts like PIN interception, card skimming and dispenses trapping.
Computer Point’s Managing Director Anil Kuruvilla said the organization has teamed up with Diebold to assist banks and other financial institutions to beat the fraudsters. Computer Point, he said, will send out the first-line hardware and software product to banks to help them stave off hackers attacks.
This latest technology could alter ATMS into intelligent devices that can handle multiple currency handling and envelope free cash deposit automation.