ATM Security Gets an Upgrade

Modern technology has made life easier for most people. Credit cards can be used to purchase just about everything a person could need from just about every location. There are even devices for mobile phones that can be used to accept credit cards. ATMs are also located at just about every store and popular location. It has even been easier to have access to a bank account then with the increase in ATM locations.

With the increase in ATM usage there has also been in increase in security. The Payment Card Industry Security Standards Council also known as the PCI has taken several steps to make sure a person can safely used an ATM without having to worry about identify theft and other related problems.

The PCI Council had put together a list of security codes that an ATM must meet. Using an ATM has become more complex due to increased network security. There are more screen when taking money out of this machine. The use of a security code only known by the cardholder is needed. Community banks and credit unions are also using third party businesses to take care of ATM troubles. This includes having the ATMs physically inspected on a regular basis and keep up with the encryption of the keys.

When looking to increase ATM standards on security there are a number of parties that have to be responsible for keeping the user’s information safe. There are measures that have to be taken that the banks, technical department, and even credit card companies have to follow. The PCI Compliance organization is even making mandates for software and hardware companies to increase security when using the ATM.

The main concern for security is the key pad that where the users enters their pin number. In addition to making this more secure the PCI wants to see increased security measures on the technological aspect of the ATM which is mainly the use of the internet to transfer information. The PCI acknowledges that many banks and companies are already using these additional security measures but would like to see them uses on a more consistent basis and with regular maintenance.

The PCI is drafting additional security measure that are to be taken by major credit card names. The PCI is worried that thieves can get a personal pin number too easily from an ATM and use that to steal account information and credit card numbers. It is suggested that credit card companies join the global community with chip and pin technology that will meet the security standards for payment types such as the Euryopay and Mastercard and Visa credit card standards.

The PCI feels this will reduce the likelihood of account information being stolen. There additional measure that can be taken to keep a person’s information safe. The FICO can monitor a person’s account and be on the lookout for suspicious activity such as large amount of money within drawn or a sudden increase in card usage. With the change of technology the PCI and similar organization are looking to make their use as safe and secure as possible while still allowing a person to have privacy and freedom to access their money at any given time.