BS/2 will take part in the VIII International Conference "Anti-Fraud in the Digital World", which will be held on September 9 in Kyiv. The event is organized by the Business Format company. The conference is dedicated to security issues in various areas of banking. One of the topics of the event is the protection of self-service banking devices from various types of fraud.
ATMs and other self-service banking devices attract more and more attention from criminals every year. The number of logical and physical attacks on terminals and the damage they inflict on financial institutions are growing. According to EAST, in 2020, the losses of banks only from logical attacks aimed at ATM software increased by 14% compared to 2019 and amounted to 1.24 million euros. At the same time, the number of incidents themselves increased by 44%.
The situation with physical attacks is no less difficult. Despite the fact that their number decreased by 19% compared to 2019, the amount of damage they inflicted on banks in 2020 increased by 1% and amounted to 22.4 million euros. It means that physical attacks on terminals are becoming more serious. More than 47% of losses associated with physical attacks were incurred by financial organizations due to the use of gas or other explosives by criminals. This type of attack is one of the most destructive today and means significant losses for a financial institution.
It should be noted that in addition to direct financial losses, the owners of terminal devices also bear additional costs for the restoration of their self-service infrastructure, which is not always possible to fully assess. These costs are not included in official statistics, but in some cases, they may even exceed the direct damage.
During the upcoming conference in Kyiv, banking technologies specialists from around the world will discuss current industry problems related to the security of data and devices used in banking, as well as share their experience in solving them. BS/2 will be represented at the event by the head of the software sales department Nerijus Žikas, who is one of the leading ATM security experts in Lithuania. He will act as a speaker with the report “Problems of Ensuring the Security of ATMs in the Countries of Eastern Europe and Central Asia”, in which he will talk about how attacks on ATMs have changed in 2020, what measures are being taken by banks to protect their self-service devices from logical and physical attacks, and how banks can meet new threats with specialized high-tech solutions. After the speech, the specialist will answer the questions of the conference participants.
BS/2 specializes in the development and supply of solutions for the banking and retail sectors. One of the BS/2 solutions, an integrated ATMeye.iQ platform designed for video surveillance and fraud prevention on self-service devices, is successfully used to protect bank terminals in 80 countries around the world. In total, at the moment, about 80,000 devices are protected by ATMeye.iQ.
More information about the conference you can find here >>
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