By Uma Welingkar
Major financial institutions and regional credit unions alike are focused on digital transformation efforts, including mobile banking services and customer support experiences. Yet, despite new advances in fintech, brick and mortar security challenges persist. In 2017, 68 percent of executives classified ATM skimming as a very severe or severe threat. ATM manufacturer Diebold Nixdorf estimates ATM skimming at over a $2 billion problem globally.
Video surveillance systems are omnipresent at all banking locations, but legacy systems can make finding evidence of crimes extremely time-consuming and inefficient, forcing investigators to scroll through hours of video once a fraudulent transaction has been detected. A video management system (VMS) that includes search with integrated analytics can accelerate fraud prevention efforts, but not all VMS are made alike. Innovative solutions that offer an open platform and include video analytics can make a VMS much more powerful in the fight against ATM tampering and fraud.
Integration with ATM Systems
A legacy VMS requires investigators to run a report several days or even weeks after the fact to uncover fraudulent transactions. By integrating the VMS directly into the ATM backend software systems, managers can instead receive real-time alerts to fraudulent activity that can instantly be matched to the corresponding physical event at the ATM. Choosing a VMS designed with an open platform makes it easier to correlate physical evidence with ATM transaction data.
A VMS that includes video analytics can help investigators analyze data from videos by conducting real-time searches using specific criteria, such as license plate numbers, ATM transactions, or facial surveillance. This type of solution creates a more powerful tool to gather evidence against criminals.
ATM Skimming and Tampering Solutions
ATM skimming starts with criminals tampering with the ATM by inserting skimming devices. Analytics that measure the length of time a person or object remains in a pre-defined zone can detect suspicious behavior. Administrators can set a time value which, when exceeded, sends an alert of a potential tampering event. When integrated into the ATM software system, alerts can be triggered when a person exceeds the preset dwell time and no ATM transaction occurs, further evidence of potential criminal activity.
3VR by Identiv’s ATM skimming and tampering solutions provide real-time alerts when fraudulent activity or tampering is detected. Analytics can also monitor the immediate area around the ATM card slot to detect motion and loitering in front of the ATM. With integration into ATM systems to show no transaction occurred at the time of the motion, more effective alerts can focus investigator attention on the precise video clips most likely to represent malicious events.
3VR ATM harvesting solutions use facial detection and surveillance capabilities to detect repeat offenders or ATM visitors avoiding the camera. Known offenders’ images can be loaded into the database to trigger alerts when a match is detected, alerting fraud managers to multiple transactions by the same ATM customers, or potential ATM harvesting incidents.
3VR’s VisionPoint™ dashboard gives fraud investigators accurate intelligence and data visualization in real time, in a cloud-based, easily digestible format, instead of waiting for weeks for other business intelligence database reporting.
To learn more about how 3VR by Identiv’s video surveillance and analytics can help win the fight against ATM skimming and fraud, request a one-on-one meeting or call +1 888-809-8880.