AN INVESTIGATION ON FRADUSTER ACTIVITIES USING ATM PIN

AN INVESTIGATION ON FRADUSTER ACTIVITIES USING ATM PIN

CHAPTER ONE

INTRODUCTION

BACKGROUND OF THE STUDY

ATM industry associations, along with experts within the technology- based and financial
institution fields agree that ATM security should be an investment that is strategically
implemented. In “The Many Socio-Economic Benefits of ATMs”, the ATM Industry
Association, a global non-profit trade organization known as ATMIA, highlighted the ATM as a
significant invention that enhanced various social and economic benefits within the economy,
governments across the world, retailers, consumers, and financial institutions. The ATMIA
concludes that the convenience of twenty-four hour, seven day a week service is paramount for
society, as extended service hours enhance the profitability of financial institutions and retailers
alike. Domestic and global economic stimulation is enhanced through a common network to
access cash directly from a consumer’s account from any location, thus leading to a habitual
spending pattern (ATMIA, 2010).
The ATM Marketplace, in collaboration with KAL ATM Software, conducted the “2012
ATM Software Trends and Analysis” study. The ATM Marketplace reviewed that financial
institutions are using multiple channels to reach their customers, such as online banking, mobile
banking, ATM, call center and branch level service. The ATM Marketplace has been surveying
experts within the global ATM and financial institution industries annually since 2007. The
number of respondents has increased significantly, starting at 207 in 2007 and expanding to 797
in 2012. The purpose of the survey was to gauge the needs for ATM software, both with current
and future plans for functionality as customers increase the desire for the ATM to become the
primary touch point. The findings of the survey coincide with the ATMIA’s position of
enhancing the focus to be placed on the ATM as a primary customer touch-point.

purpose of the study

The purpose of this project is to offer strategic fraud- risk based solutions for financial
institutions to incorporate as an effort to reduce losses to due ATM fraud. The risk-based
solutions offered include methods of both detection and deterrence of criminal behavior. The
strategies are ubiquitous and can be incorporated into any financial institution’s risk management
plan. The research identifies and outlines the business risks inherent with ATM usage. The
research identifies risks for financial institutions that both own their own machines and those
who do not, as consumers are welcome to use any ATM within the world. The project will
identify both physical risks to the ATM terminal as well as intellectual risks to the cardholder’s
data. The research will highlight the negative impact of when both factors are compromised;
financial losses are incurred by the consumer and ultimately the financial institution.
The project will offer unique and specific behavior detection solutions for ATM
skimming fraud through data mining and predictive analytics. Predictive behavioral analytics
serves as a proactive measure at the transaction level to determine the probability of the
individual withdrawing the cash being the true consumer or a criminal. The technology uses
metrics based off of the consumer’s past behavior to predict typical spending patterns. For
example, consumers will typically use the same ATMs, especially those that are located close to
home, work, or frequently used shopping centers

How to get complete project materials


Step 1: make payment of N3000 to any of the bank below


NAME:                       TITUS AYANI SOLA
BANK:                       FIRST BANK PLC
ACCT NO:                  3111741042
ACCOUNT TYPE:       SAVINGS
AMOUNT:                  N3000

NAME:                       TITUS AYANI SOLA


BANK:                       WEMA BANK
ACCT NO:                  0237422220

STEP 2: AFTER PAYMENT SEND THE PROJECT TOPIC AND YOUR MODE OF DELIVERY (EMAIL ADDRESS OR WHATSAPP) TO 08063666753

Updated: 22nd June 2022 — 10:10 am