While measures such as Triple DES and encrypted PIN pads address the problem of internal fraud at the ATM, the largest vulnerability remains: the ease in which external equipment can be used to compromise an ATM. Level Four says the fundamental problem is that magnetic strips are not secure - and any initiative that fails to address this ignores the real problem. The company suggests a method for phasing in EMV chip cards to increase ATM security. According to Level Four, banks that commit to investing in upgrades to support these cards could gain significant competitive differentiation over ISOs.
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Editor's note: This white paper was provided by Level Four. Statements made in the text reflect the views and/or opinions of its author(s) only.
