ATM Fraud Spikes in Florida and California - Legal News


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ATM Fraud Spikes in Florida and California

ATM Fraud Spikes in Florida and California
The content is accurate at the time of publication and is subject to change.

Florida and California were hardest hit when it comes to debit and credit card skimming, crimes where thieves install a device on an ATM or cash register that steals card information. Almost half of all skimming in 2012 (46%) happened at bank-owned ATMs. Just over a third (36%) occurred at retail locations. Only 18% of card skimming took place at ATM machines not operated by banks.

That represents a significant change from 2011, when the majority (79%) of card skimming happened at retail point-of-sale terminals. The dissolution of a large multi-state crime ring that targeted cash registers in stores helped lower that stat.

FICO Labs analyzes over 65% of all U.S. ATM transactions and found a significant increase in skimming in California and Florida this past year. Fast-food restaurants and ATMs in California were the most likely place for this crime to happen, especially in Los Angeles, Riverside, San Diego and San Bernardino counties.  Florida also had a rash of skimming incidents in the second half of the year largely due to the compromise of card-readers at a well-known national bookseller and a local grocery store chain.

Credit card fraud

FICO stats show that 20 states experienced a rise in overall credit card fraud rates during 2012. Seven of those were on the East coast – Main, Massachusetts, New York, North Carolina, Pennsylvania, Vermont and Virginia. South Dakota had the biggest increase in credit card fraud, with a jump of 25.6%. Iowa also experienced a significant rise in the crime, with a 22% higher rate of credit card fraud in 2012 compared to 2011. Washington State, Montana and Virginia all had rate increases around 10%.

Fraud rates were lower in many states though, including California – which, in spite of the spike in ATM card skimming, had an 8.7% decrease in card skimming fraud overall. Other states that experienced a decrease were Kansas (-9.5%), Idaho (-7.6), Missouri (-6.1%), New Mexico (-5.0%) and New Jersey (-4.5%).

A complete listing of FICO’s findings can be found on this interactive map.

This crime ring targeted a single retailer, compromising point-of-sale terminals in 70 locations across 18 states.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
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