ATM fraud likely to rise, security agency warns

Download our latest podcast here.

ATM fraud likely to rise, security agency warns

Banks are likely to see cash-machine fraud rise unless steps are taken to improve their cash-machine infrastructure, the European Network and Information Security Agency has warned.

European banks in 22 countries lost a total of 485 million euros due to ATM fraud in 2008.

Around 400 million of that fraud occurred outside the country where the card was issued, in countries where ATMs rely only on magnetic stripes to authorize transactions, and do not check to see if cards have a special microchip.


Card fraud set to rise and what to do about it

Fighting first party fraud in Canada – an expert shows how

But machines are vulnerable in other ways, running unpatched commercial operating systems or having exposed power and network connections, leaving them vulnerable to eavesdropping and malware, the agency warned.

Google has attempted to address European publishers’ concerns about its book digitization project by offering them seats on the board of the organization managing pay-outs to copyright owners, and promising not to digitize European works without consulting their publishers first. 

The company is still trying to convince a U.S. court to let it go ahead with a settlement agreed with U.S. publishers.

Intel has pushed its Nehalem microarchitecture into mainstream PCs with the release of its first Core i5 chip. The Core i5-750 is a quad-core processor aimed at multimedia desktop PCs. It runs at 2.66GHz and draws 95 watts of power.

The first Nehalem chips were the Core i7 processors introduced last November for gaming desktops costing over 1700 dollar. Intel has also launched Xeon server chips based on the same architecture.

The Nehalem architecture offers faster access to memory and graphics cards and in other chips can run two threads per core. The i5-750, however, is limited to one thread per core.

Deutsche Telekom and France Télécom have begun exclusive negotiations to form a joint venture to run their respective U.K. mobile communications networks, T-Mobile U.K. and Orange U.K.

They said the combined company will have over 28 million customers, or around 37 percent of U.K. mobile subscribers, putting it ahead of current market leader O2, which has almost 21 million.

The companies intend to close stores and transmitter sites to cut costs, but say remaining stores and transmitters will offer better service. They will put off a decision about which brand to drop for at least 18 months, they said

And those are the top stories from the IDG Global IT News Update, brought to you by the IDG News Service. I’m Peter Sayer in Paris. Join us again later for more news from the world of technology.

Would you recommend this article?


Thanks for taking the time to let us know what you think of this article!
We'd love to hear your opinion about this or any other story you read in our publication.

Jim Love, Chief Content Officer, IT World Canada

Featured Download

Featured Story

How the CTO can Maintain Cloud Momentum Across the Enterprise

Embracing cloud is easy for some individuals. But embedding widespread cloud adoption at the enterprise level is...

Related Tech News

Get ITBusiness Delivered

Our experienced team of journalists brings you engaging content targeted to IT professionals and line-of-business executives delivered directly to your inbox.

Featured Tech Jobs