FICO offers safety tips for cardholders

• 10 percent more debit cards were compromised at U.S. ATMs and merchant card readers in 2017, according to new FICO data
• Compromises of ATMs and merchant devices in the US rose 8 percent
• Cardholders should employ common sense when using ATMs, and check their transactions frequently
• FICO^® Card Alert Service monitors hundreds of thousands of ATMs in the US

There was a 10 percent increase in the number of payment cards compromised at U.S. ATMs and merchants in 2017, Silicon Valley analytic software firm FICO reported today. The number of compromised card readers at U.S. ATMs, restaurants and merchants rose 8 percent in 2017.

FICO’s data comes from the FICO^® Card Alert Service, which monitors hundreds of thousands of ATMs and other readers in the US. These figures cover only card fraud occurring at physical devices, not online card fraud.

“The number of compromises and the number of card members impacted set a new record last year,” said TJ Horan, vice president of fraud solutions at FICO. “While most devices are safe, fraudsters are developing new technology and methods for hacking ATMs. This is why it’s important for consumers to be cautious when withdrawing cash, and also for them to check their account regularly and confirm that all the transactions on their debit card are legitimate.”

FICO offers these tips for consumers:

• If an ATM looks odd, or your card doesn’t enter the machine smoothly, consider going somewhere else for your cash.
• Never approach an ATM if anyone is lingering nearby. Never engage in conversations with others around an ATM. Remain in your vehicle until other ATM users have left the ATM.
• If your plastic card is captured inside of an ATM, call your card issuer immediately to report it. Sometimes you may think that your card was captured by the ATM when in reality it was later retrieved by a criminal who staged its capture. Either way, you will need to arrange for a replacement card as soon as possible.
• Ask your card issuer for a new card number if you suspect that your payment card may have been compromised at a merchant, restaurant or ATM. It’s important to change both your card number and your PIN whenever you experience a potential theft of your personal information.
• Check your card transactions frequently, using online banking and your monthly statement.
• Ask your card provider if they offer account alert technology that will deliver SMS text communications or emails to you in the event that fraudulent activity is suspected on your payment card.
• Update your address and mobile phone information for every card you have, so that you can be reached if there is ever a critical situation that requires your immediate attention.

FICO works closely with banks and card issuers around the world to identify fraud trends and shut down card fraud. In addition to FICO^® Card Alert Service, FICO offers the FICO^® Falcon^® Platform, the leading card fraud solution, which protects 2.6+ billion cards worldwide. FICO also offers FICO^® Card Compromise Manager, which proactively detects and prioritises compromised merchants and data breaches, automatically alerting fraud teams.