Banks Are Now Using ATM Machine GPS Tracking Devices
I know you are already wondering why under all the technological advancements why banks and credit unions cannot keep their ATMs safe from theft and fraud. In the US, the number of credit and debit cards compromised swelled 70% in 2016. Compromises of ATMs in the US in the same year rose by 30%. Remember we haven’t talked about the ATMs that were hacked remotely the same year. We have also not included statistics of the current cases. Remember a case where criminals used a power drill and a homemade gadget that triggered the ATM’s cash dispenser to empty the machine?
In 2017, a member of a gang stealing money from ATMs that used card-reading devices and pinhole cameras to steal money from the American ATMS pleaded guilty in a Newark, N.J, Federal Court. What this means is that over the last few years, there has been a significant increase in the number of ATM theft cases. This is following a global pattern because it’s not only in the US that these things are happening.
According to NPR, ATM machines theft cases cost the economy of US a staggering $4.5 million each year. The main reason why ATM theft cases are on the raise is because they are becoming more sophisticated and more frequent. The ATM crimes have run into a very diverse point with criminals psychically picking ATMs and loading them into their trucks to go and blow them open using skimming devices that can trigger the machine to remove all the money that is available. Now the criminals can even use malwares to trigger the machine to spew out the cash.
Why ATMs Are Targeted
The fact that there’s a slight increase in the ATM theft cases, it means that there is a good reason why ATMs have become increasingly a point of target. Among all reasons, there are three main reasons why criminals target ATMs today.
- They are less risky that a bank Holdup-The fact is that crime penalties are less than those of robbing a bank. Breaking into an ATM is just considered a simple theft but sticking to a Teller in a bank is a major crime.
- Yank and Grab-The methods that most of the robbers use are not subtle. Some just get the machine and yank it away.
Most Common ATM Crime Tactics
Skimming-This is the use of card readers to steal information from card’s magnetic stripe. It is the most popular and the most successful method of getting away with the ATM money. This technology has improved drastically over the last few years. One thing that most of the people don’t know is that card skimmer tools are not illegal in the US unless they are used to commit a crime. What this means is that in the US almost everybody can buy an over the counter card skimming machine. These devices are designed to be plugged into a POS device which means that they are recently widely used commercially.
The worse case is when you go to the market and see these devices being sold with the sole purpose of committing crimes. This is the main reason why most of the people believe that these machine though not illegal their use is not ethical.
Use of malware-Another very common tactic is the use of malware and other computer viruses to get the ATM’s information and later initiate it to spill the money. Though this is not very common, it is still a hot soup. It has over the years increased with the advancement in technology. In 2018, there were evidences of three types of malware that were capable of committing these crimes. There are two methods that they use to install the malware into the machine. One of them is what Kasparsky calls black box which works through a USB port. The second one is what experts call Cyber attacks infections. This is a case where the attackers infect the machine with the viruses. After infecting the machine, these criminals with Hoodies and sunglasses will enter the ATM and get free access.
Countering ATM Crimes
The good thing is that today there are several things that the banks and other financial institutions can do to reduce the instances of theft. In addition to the methods that are available in the market today, banks can use GPS tracking for ATMs to help apprehend the offenders. This system can at any time assist the authorities to curb instances of theft and eventually recover the money in case it is stolen. Now we have to talk about some of the ways that a GPS tracking system can help curb ATM theft.
Real-Time Tracking With ATM Machine GPS Tracking Services
This is the main reason why every individual business or organization goes for GPS. It is the main benefit that banks and other financial organizations can get after installing GPS tracking systems on their ATM machines. If the business notices that their ATM machine has been stolen, the next thing they are supposed to do is to notify the policy. With an ATM machine GPS tracking Device, it becomes very easy for the law enforcement to follow and combat the crime. The company can be able to recover ATM machine if stolen. This saves the machine because it can be recovered before something happens to it. It also saves the bank and credit unions a lot of money that they could otherwise lose if the machine was stolen.
Triggers Motion Sensing Alert With GPS Tracking Device
This is another very beneficial thing that a GPS tracking system for ATMs can help. In case the machine is touched or moved, the tracking device will trigger automatic silent alarm. The machine is only supposed to be configured to sense motion and act accordingly when the machine is tilted. It can as well notify the control room whenever the ATM is tampered with. The main thing that will happen in this case is that the law enforcement will take a move and combat the crime before the money is stolen. In case the criminals have already moved the machine, the police can use GPS tracking to track and arrest the offenders. It is beneficial rather than discovering the crime long after it has occurred.
Get Real Time Notifications and Emails Whenever The Machine Is Attacked
GPS Tracking system will not only trigger a silent alarm but also send silent email and messages notifications when the ATM is attacked. The machine can be configured to give these notifications whenever the machine is tilted or moved. The business will at all time get real time email and messages notifications. This makes it easy for you to know whenever the machine is tilted and moved. The support team can later act accordingly to prevent the crime from happening.
Geofencing
Another very important reason why people go for ATM GPS tracking devices is its ability to set a electrical fence. With these devices, your business can be able to set a geo fencing where the support team gets real time notifications in case the machine is moved beyond a predetermined circle.
It is now very easy to set a distance that the machine should operate. If for any case the machine is moved beyond this circle without the management consent, the GPS tracking systems will send real time information which can help you on the process.
It makes it easier for the authorities to follow the machine before any damages are done on it. The authorities may also have an easy time because they just have to use their phones to track the machine remotely.
Other Measures
There are some old schools measures that can help you solve or reduce instances of ATM machine thefts. Now banks and merchants are trying some ways like the use of a device by the name Raminator which keeps the machines locked. In some countries such as Australia, this device has greatly impacted on the move by banks and authorities to curb ATM thefts. According to statistics, this device has reduced cases of ATM theft by 95% over the last few years.
The banks and merchants should also do something about malware tactic. The fact is that malware attacks became very popular in 2014 and have since then led to increase in ATM attacks. The business management should do any of the below things to reduce the prevalence of malware attacks.
- Remove unused services and applications
- Update anti-virus software time to time
- Utilize a machine alarm
- Change all machine locks and keys time to time
- Provide different users with appropriate access privilege
- Install a firewall
- Implement SSL encryption
The fact is that thieves come up with new tactics each day. This means that as thieves around the globe grow and get sophisticated methods of attacking ATM machines, it becomes extra necessary for each business to fit their machines with GPS ATM tracking devices. With all the above benefits, your business doesn’t have to lose much. If this you want to secure your business this year, then you can get in touch with ATM Machine GPS Tracking Provider GPS Leaders.
