ATM security: Review existing measures to check frauds, asks bank officer union

On Wednesday bank officers’ union AIBOC made a case for deployment of guards at all ATMs to check frauds.

In a letter to the Department of Financial Services under the Finance Ministry, the All India Bank Officers’ Confederation (AIBOC) said there has been an increase in ingenuous ATM frauds perpetrated through sophisticated hacking attacks like ‘Man in the Middle that have surfaced at several cities of the country.

               In MiTM attacks, cyber fraudsters secretly intercept the two-way encrypted messaging and data transfer between an ATM and its bank servers and manipulate it to prompt.

If such frauds continue unabated, it will shake confidence of customers in this alternate channel, the letter addressed to Financial Services Secretary Debasish Panda said.

All such frauds are taking place in unguarded ATMs in spite of e-surveillance being installed therein, it said, adding that such surveillance is not real-time and fraudsters are taking advantage of the vulnerability of unguarded ATM kiosks. department can review the whole problems and accordingly initiate suitable measures, it said, adding the matter can be taken up with the banks as well as state governments for ensuring adequate security arrangements at ATM sites.

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