30 August 2006
The payment clearing service APACS has announced that despite the rising levels of fraud, cash machines are becoming increasingly secure.
This assertion follows the news by Sainsbury's Bank that it plans to invest an extra £3.5 million in new security measures for all its cash machines.
APACS stated that £21.1 million had been lost to card fraud in 2001 - a figure which increased to £65.8 million by 2005.
However, APACS spokeswoman Sandra Quinn said the group was positive that card skimming fraud would now decrease as cash machine security measures increase.
She said: "Fraudsters have a window of opportunity at the moment - but this will narrow as banks implement more security measures. Cash machines are increasingly more secure as cash machines owners are making them more secure.
"Cash machine owners will know which machines are more fraud prone and can make sure those cash machines will be upgraded.
"If we have huge instances of fraud in certain areas we have an intelligence system to alert banks. If they are developing systems they know what they are having to cope with."Compare credit cards and start saving money. It takes just a couple of minutes to find the best credit cards for your needs.