MERIT Solutions Blog

MERIT Solutions has been serving the Chesapeake area since 1982, providing IT Support such as technical helpdesk support, computer support, and consulting to small and medium-sized businesses.

Is Combining Mobile Apps and ATMs a Good Idea?

Is Combining Mobile Apps and ATMs a Good Idea?

ATMs are, surprisingly enough, not the most secure pieces of technology out there, though there are efforts to improve security by taking advantage of mobile devices. Granted, this won’t be enough to protect against the considerable vulnerabilities in ATMs. In order to maximize security and minimize the amount of damage done by vulnerabilities, the user needs to understand how to protect themselves while using ATMs.

What’s Being Done?
Wells Fargo has created an initiative that lets members access their accounts through an ATM, even without their ATM cards, through a mobile device. The application in question allows the account holder to receive a temporary pass code that they can use at a Wells Fargo ATM alongside their PIN.

At the time of this writing, while Wells Fargo is certainly the one leading the pack in terms of app-based ATM access, there are others who are following suit. These organizations include Chase, Bank of America, and Citigroup, all of which have already started to implement similar measures for their ATMs.

However, that’s just the beginning. Wells Fargo’s ATMs also feature near-field communication (NFC), which lets their users access their funds without the need of their card. Users can also use their mobile device to scan their fingerprint, alongside entering their PIN. Only 40 percent of the ATMs are currently equipped with this feature, but it seems to be a great way to help card users in a pinch.

Will These Advancements Work?
These advancements might be a great way to help users stay more secure, but criminals will still find ways around these functions. This is apparent, as six times as many ATMs have been compromised since 2014.

Scammers are also taking advantage of cameras and card skimming technologies to steal information when a bank member accesses an ATM. Some of the more advanced card skimmers can be inserted directly into the ATM’s card scanning mechanism, giving thieves direct access to individual’s account information and security credentials. Even schemes like pinhole cameras can let hackers get a great view of a user’s PIN or card number.

To make matters worse, hackers might try to sabotage machines that don’t have their devices installed on them. This forces bank members to use the devices that have been tampered with, putting themselves at risk. Therefore, if you see a group of ATMs and only one of them works, you may want to avoid using it.

Even those who have chip-based cards aren’t safe from hackers, as scammers can use a method called “shimming” to steal the information located on the chip. While this is somewhat rare to encounter, chances are that hackers will eventually be able to streamline the process and it will become more popular over time--especially considering how common chip cards are now. That’s not even mentioning that the chip cards still have magnetic strips, which means that they might decide to just swipe the card.

A Couple of Problems
Keep in mind that ATMs are still rather vulnerable to scammers for a number of reasons. For one, these security features often are only added to the machine’s features rather than replacing old or ailing ones. For example, the Wells Fargo ATMs that allow for temporary PINs will still allow for access with less secure methods. Considering how there are only about 20 million Wells Fargo app users out of their 70 million members, there’s a majority that are still using less-secure features for their banking purposes.

Even further, this assumes that those 20 million app users will bother to take advantage of them in the first place. Sometimes a habit can be hard to break, especially when you’ve been using the same technology for so many years. Regrettably, some users will still just keep using their cards the same way, even though security is a valid reason to change it up.

What Can You Do?
Regardless of how you use ATMs, you’ll need to keep security at the top of your mind. To this end, it’s your responsibility to take advantage of whatever means necessary to protect your finances. The least you can do is shield your PIN with your other hand as you plug it into the ATM.

What are your thoughts on these ATM security practices? Let us know in the comments, and be sure to subscribe to our blog.

e-max.it: your social media marketing partner
 

Comments

No comments made yet. Be the first to submit a comment
Already Registered? Login Here
Guest
Monday, 23 October 2017
If you'd like to register, please fill in the username, password and name fields.

Tag Cloud

Security Tip of the Week Cloud Technology Business Computing Privacy Best Practices Hackers Malware Software Hosted Solutions Backup Network Security google Internet Computer Disaster Recovery Business Continuity Microsoft Productivity Windows 10 Business Managed IT Services VoIP Innovation IT Support IT Services Hardware Mobile Devices Outsourced IT User Tips communications Business Management Windows Efficiency Email Mobility Ransomware Productivity Mobile Device Management Save Money Telephone Systems Managed IT Smartphone Server Cybercrime Saving Money Hosted Solution Quick Tips Cybersecurity Apps Android Virtualization Operating System Law Enforcement Information Technology Passwords browser Recovery Password Small Business Microsoft Office Data Backup BYOD Chrome Data BDR Money VPN Data Recovery Unsupported Software Budget Data Management upgrade Hacking Social Avoiding Downtime Office 365 Health Communication Miscellaneous Managed Service Provider Computers Wireless Facebook USB Social Media Government Save Time Risk Management Smartphones Cloud Computing Gadgets Workplace Tips Shortcut Work/Life Balance Wi-Fi Firewall Application Google Drive Automation Current Events Telephony Audit Data Security Alert search App Office tips Applications Private Cloud Proactive IT Best Practice Cleaning Internet of Things Office Computer Care Phone System The Internet of Things Gmail Windows 10 Humor Disaster Users Update Encryption Identity Theft Employer-Employee Relationship IT solutions Spam Phishing DDoS Network Holiday Flexibility Managed IT Services Data Storage Cost Management Television Hacker Solid State Drive Internet Exlporer Social Engineering Wireless Technology Streaming Media Apple Samsung Antivirus iPhone WiFi Battery Going Green HaaS Mobile Computing Transportation Bandwidth Compliance Personal Information Robot Automobile Politics History Remote Computing IT Support End of Support User Error Saving Time Commerce Hard Disk Drive Touchpad server installation dvd "cannot install required files" WIndows Server 2008 Tablets Root Cause Analysis Video Games Reputation stock Virtual Reality Advertising Scam Patch Management NFL Music Augmented Reality Legal tweet Data storage Business Intelligence Touchscreen Outlook Vulnerability calculator Employer Employee Relationship Word Analytics Administration Twitter Chromecast control Keyboard Managed IT Service Instant Messaging Excel Worker Commute iOS Artificial Intelligence Sports Computer Accessories Mobile Device Windows Ink Big Data Colocation WSJ Exchange Tech Support Managing Stress Hard Drives Regulation Distributed Denial of Service Computer Fan altivista Files Lithium-ion battery Google Maps Books OneNote Scalability Administrator Education Data Breach SBS Hiring/Firing Screen Mirroring Vendor Management Sync Dark Web Router compaq Access SaaS Meetings How To Relocation Wearable Technology Emails Benefits Cast Adobe hp Unified Threat Management Data Loss Content Filtering Settings PDF Marketing domain Training Licensing Entertainment Upgrades Google Docs Electronic Medical Records Point of Sale Text Messaging Webinar remote HBO Company Culture Mobile HIPAA eWaste Yahoo Consultant Black Market Running Cable IT solutions Server 2008 Smart Technology Data Protection Value Professional Services Collaboration Avoid Downtime Ali Rowghani Two-factor Authentication Trending Shadow IT Document Management Windows 10s Laptop Uninterrupted Power Supply IT Management Travel Experience Nanotechnology Storage Thank You Worker Congratulations CrashOverride Software as a Service WannaCry Cache Monitors Microsoft Excel Safety Remote Monitoring File Sharing Emergency

Mobile? Grab this Article!

QR-Code dieser Seite

Recent Comments

Anna Jackson 5 SEO Tools To Get a Google-Eye View of Your Website
15 September 2017
Hello Randall! I was doing very important work but due to your subject I felt better to stay at you...
David Miller Not all project-management tools are right for all businesses
25 August 2017
All the points depicted by you in this blog is v.apt. I love the title of this blog because it says ...