MARKHAM, ON, MAY 28 – Everlink is pleased to announce that Fraud Monitoring for ATM acquiring is here!

The ATM continues to earn its place at the heart of modern banking, providing financial institutions with a vital touchpoint for customers and members. The ATM in many cases acts as an extension of your business, continuing to be a frequent point of welcome and interaction for your clients and members, as well as the public at large, with your institution. The expectation of all who visit your institution’s ATMs is that they are secure, protected, and monitored for potential fraud.

Since the implementation of EMV, traditional losses from large scale coordinated attacks at ATMs using counterfeit debit cards have virtually been eradicated, as a result, fraudsters have started to target the ATM itself using complicated malware schemes designed to strip the ATM of the cash held inside. Fraudsters have also employed less sophisticated methods, such as transaction reversal fraud, which can actually damage the ATM, triggering significant repair bills. It is a documented fact that once fraudsters have successfully compromised a particular institution’s ATM, they will continue to target that same institution. In 2018, a coordinated cash-out fraud scheme netted criminals $13.5 million from just one bank.

Recently, Everlink unveiled its new enterprise monitoring platform, eDETECT+™. Under the eDETECT+™ umbrella, Everlink will be offering new services to ATM acquirers, Issuers, and Merchants. As of today, eDETECT+™ is capable of monitoring ATM acquired transactions in real-time, with the ability to decline high risk, potentially fraudulent transactions on the spot, therefore reducing fraud losses. Through the use of device profiling, coupled with analytically derived situational rules, it aims to prevent the following known Fraud schemes from taking advantage of devices and ATM networks:

• Transaction reversal fraud (TRF)
• ATM cash-out schemes
• Some cases of ATM jackpotting
• ATM cash depletion for points scams

“The threat of malicious activity on ATMs across Canada continues to persist for both financial institutions and credit unions alike,” says Mark Ripplinger, President and CEO of Everlink. “Everlink’s state-of-the-art eDETECT+™ fraud monitoring is another layer of defence for ATMs to help ensure our clients’ ATM networks are protected from exploitation of various fraud schemes.”

In addition to eDETECT+™ situational and profiling rules, fraud monitoring for ATM acquired transactions also incorporates the use of the ATM scoring model via Everlink’s eSCORE™. This machine learning model will score ATM acquired transactions to better predict probability of fraud, and minimize impact of false real-time declines to legitimate customers. Adding the eDETECT+™ fraud monitoring solution for ATM acquiring to our arsenal of protection will greatly minimize the potential for fraud losses to clients by enforcing real-time declines at ATMs.
For additional information on fraud monitoring for your ATMs please contact your Everlink Account Executive.

Everlink Payment Services Inc. is a leading provider of comprehensive, innovative and integrated payments solutions and services for credit unions, banks, and SMEs across Canada. In addition to supplying best‐in-breed technology infrastructure and payment network connectivity, we offer a comprehensive range of integrated payments Lines of Business including: Payment Network Gateway, ATM Managed Services, Card Issuance & Management, Fraud Management Solutions, Mobile Payments, Professional Services and SME Solutions.

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