Is Your Bank Keeping Up with Compliance Skimming Standards?

” The FBI estimates that e-skimming scams cost cardholders and banks over $1 billion annually “
( b2b.mastercard.com/news-and-insights)


Avoid the legal risks and protect your customers from skimming attacks
Checklist of Compliance Standards for ATM Vestibules (Suggested Due Diligence)
This checklist is based on recommendations from leading regulatory bodies such as the Federal Financial Institutions Examination Council (FFIEC), the Payment Card Industry Security Standards Council (PCI SSC), and legal requirements under U.S. laws.
Use this checklist to ensure your ATM vestibule meets today’s strict security requirements:

  • Encrypt cardholder data during transactions.
  • Install anti-skimming technology on ATM vestibules.
  • Regularly test and monitor security systems and access control devices.
  • Ensure network security to prevent unauthorized access.
  • Implement physical security around cardholder data storage areas.

for more information and resources visit www.pcisecuritystandards.org/

  • Upgrade to EMV or NFC technology to minimize skimming risks.
  • Ensure that ATM vestibules are equipped with EMV-compatible card readers.
  • Perform regular checks to verify that the technology is up-to-date.

for more information and resources visit www.emvco.com/

  • Protect customer information by implementing secure access control systems.
  • Ensure vendors and service providers are also GLBA-compliant.
  • Conduct regular risk assessments to identify potential vulnerabilities.
  • Establish policies for secure data storage and transmission.

for more information click here 

  • Implement data destruction policies for customer information.
  • Ensure access control systems in ATM vestibules meet FACTA requirements.
  • Regularly audit systems for compliance with customer information protection.

for more reading click here

  • Install NFC-enabled systems to offer contactless access control.
  • Ensure magstripe readers meet updated standards for secure data transmission.
  • Update all magstripe readers to NFC technology for enhanced security and compliance.

 

By 2025, banks will be required to upgrade all ATM vestibules to NFC technology, as regulatory bodies like the Federal Reserve and ECB push for secure, contactless access control solutions.

for more information click here

Compliance Isn’t Optional—It’s Essential for Securing Your Customers' Data

” In just two weeks, Morgan Hill police found six skimmers and a tiny camera at two ATMs owned by Bank of America,” highlighting the growing issue of skimming devices, as reported by NBC Bay Area. ” ( NBC Bay Area
By Stephanie Magallon   )

Skimming attacks and data breaches in ATM vestibules are on the rise. Non-compliant banks face serious fines and increased fraud liability. Don’t wait for a breach—ensure your bank is compliant with today’s evolving standards

Understanding U.S. Laws & Codes: Protecting Customers’ Data is a Legal Obligation

” The people getting victimized − it’s not like they’re Fortune 500 CEOs; they’re people who need the money and they need it badly.” (said Ciaran McEvoy, a spokesman for the U.S. attorney’s office.)

Compliance with U.S. regulations is not just about security, it’s a legal necessity. Banks must adhere to several key codes and laws to ensure they protect customer data and avoid severe penalties. Here’s what you need to know to keep your bank compliant and secure:

PCI DSS (Payment Card Industry Data Security Standard)
Gramm-Leach-Bliley Act (GLBA)
FACTA (Fair and Accurate Credit Transactions Act)
EMV Liability Shift

Recent Regulatory Updates in Anti-Skimming Compliance:

EMV Liability Shift:

Banks are required to transition from magstripe to EMV technology to avoid increased liability.

Upcoming Compliance Deadlines:

The Federal Reserve and the European Central Bank (ECB) have been ramping up requirements for NFC-enabled access control at ATMs. By 2025, new compliance measures will require banks to update all vestibules to include NFC (Near Field Communication) technologies, helping ensure secure, contactless entry to ATMs.

U.S. Code Title 18 (18 U.S.C. § 1029) – Fraud and Related Activity in Connection with Access Devices:

This federal statute criminalizes the unauthorized use of access devices (such as credit and debit cards) and skimming-related activities. Banks that do not take preventive measures against ATM skimming could be subject to investigation under this law, which carries criminal penalties for violations.

Compliance Is Changing, Are You Ready?

Secure Your ATM Vestibules Now

Regulations are always evolving, and the threats to customer data are growing more sophisticated. Don’t wait for a breach or a penalty. Let us help you secure your ATM vestibules with a free compliance audit today, and ensure your bank is protected

How Anti-Skimming Technology Can Protect Your Bank

” In just a matter of days, two people skimmed around 700 cards and stole over $11,000 from ATMs in Destin and Niceville, Florida.” as reported by Shelby Myers on WALA Apr. 24, 2023 ( FOX 10 News )

Implementing advanced anti-skimming technology is essential for banks to safeguard ATM vestibules and ensure compliance with evolving security standards. Here’s how these technologies work to protect your institution and your customers:

Transitioning Away from Magnetic Stripes
Is Your Bank Prepared?

Magnetic stripe technology is rapidly becoming obsolete. Mastercard has already started phasing it out, with all new cards set to be magstripe-free by 2029 and fully retired by 2033. This change, driven by the need for more secure payment methods and improved fraud prevention, is being adopted across the industry. With other major card brands following this trend, it’s critical for banks to upgrade their systems now to meet evolving standards and keep up with customer expectations.

(Source: Mastercard, 2021 Phase-Out Announcement)

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