it final project.docx

7/29/2019 IT Final project.docx

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K. V. Pendharkar College

Of

Science, Arts & Commerce

S. Y. B.Com (Banking & Insurance)

Subject:

Information Technology in Banking & Insurance

Presentation Topic:

ATM (Automated Teller Machines) Services

Teacher-in- Charge:

Prof. Jyoti Sukenkar

Presented By:

Raviraj Nahire (108181)

Sachin Tiwari (108193)


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Introduction:An automated teller machine (ATM) orautomatic banking

machine (ABM) is a computerized telecommunications device that

provides the clients of afinancial with access to financialtransactions in a public space without the need for a cashier, human

clerk orbank teller.
http://en.wikipedia.org/wiki/Customerhttp://en.wikipedia.org/wiki/Financial_transactionhttp://en.wikipedia.org/wiki/Financial_transactionhttp://en.wikipedia.org/wiki/Bank_tellerhttp://en.wikipedia.org/wiki/Bank_tellerhttp://en.wikipedia.org/wiki/Financial_transactionhttp://en.wikipedia.org/wiki/Financial_transactionhttp://en.wikipedia.org/wiki/Customer


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Automated Teller Machines (ATMs) have gained prominence as

a delivery channel for banking transactions in India. Banks have been

deploying ATMs to increase their reach. As at the end of December2007, the number of ATMs deployed in India was-32,342.

From first day of April 2009, entire ATM network is now

available to customers from any bankfor transactions for no fee at all,

irrespective of the banks in which they have their accounts, Now

Customers will not be levied any fee on cash withdrawals using ATM

and debit cards issued by other banks. This will in turn increase usage

of ATMs in India.

More people are now moving towards using the automated teller

machines (ATM) for their banking needs. According to a survey by

Bank net India, 95% people now prefer this modern channel to

traditional mode of banking. Almost 60% people use an ATM at least

once a week.

ATMs are now seen to be more than mere cash dispensing

machines. Customers use ATMs to recharge their mobile phone pre-

paid connections, pay their utility bills, even mutual fund transactions

making them at par with flexibility given in internet bankingonlymore secure. Of the value-added services provided at ATMs, bill-

payment is the most used service, followed by prepaid mobile talk-

time recharges. However, still about one third of the respondents donot use any value added services at ATMs.

The ATM market in India is not yet saturated. Though the

concentration of ATMs is greater in metros, the demand is increasing

for other cities and even rural areas. ATM's per million people

approximately is 33 units are very low. Experts forecast that thegrowth rate (CAGR) is expected to grow 18 percent up by 2013. Banks

going into a self service model can have huge saving potential for

banks and may also increase the convenience for the customers.
http://www.banknetindia.com/banking/90411.htmhttp://www.banknetindia.com/banking/90411.htmhttp://www.banknetindia.com/banking/90411.htmhttp://www.banknetindia.com/banking/90411.htm


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There is also interest towards white-label ATMs. Many

companies are interested in this model, where the ownership of the

ATM will not be with the banks but with third parties who deploy

them and make money on fees charged on every transaction. The

concept is prevalent in the American continent.

Wide acceptance of ATMs by consumers, introduction of

biometric ATMs, and increasing scope of value-added ATM serviceswill maintain growth in the industry.

The ATMs in India work according to the Interbank Networks

and other methods used in Indian system of banking. Banking through

ATMs has its certain good and bad effects. Nowadays most of the

banks try to facilitate their banking services with ATMs. All the major

banks in India have several ATMs located in various parts of all themajor cities and towns.


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History:The history of ATM can be traced back to the 1960s, when the

first ATM machine was invented by Scot John Shepherd-Barron and

used by Barclays Bank in 1967. At that time a few would haveanticipated excess in ATMs. Then for many years after, the aim was to

shift people off the teller lines thus lowering a banks distribution costs

and increase efficiency. But in the 1980s, it was noticed that people

continued to visit branches, though not as frequently, so that with the

added costs of ATMs, overall distribution costs were actually rising.

Then, in the mid-1990s, came surcharges, which fuelled the

proliferation of off-premises ATMs, which led in turn to the currentovercapacity. There was a slowdown in ATM transactions, partially

because of the consumers reaction to the imposition of surcharges.

Also by the advent of surcharging there was a massive growth in the

number of ATMs as it offered ATM owners revenues making it

economical to install ATMs where they might not have been placedotherwise.

Another co-patent to the invention of the ATM was Don Wetzel,

the Vice President of Product Planning at Docutel. While theconceptualization began in 1968, the patent was issued only in 1973.

This cash dispenser was first used by the New York based bank,

namely, the Chemical Bank. As was the case with the ATMs of during

those years, they were hardly a multi-functional unit. Moreover, they

were not based on any electronic system. Hence, the debit cards,

distinct from credit cards, were given to only selected clients with

good track records. The first ATM cards, with magnetic strips were

developed by three individuals, namely Don Wetzel, Tom Barnes andGeorge Chastain. While there were many developments in the history

of ATM, the service itself took a stronghold only in the 1970s. Today,

the ATM service has become indispensable to our modern day lives.

HSBC -- the Hongkong and Shanghai Banking Corporation -- was the

first bank to introduce the ATM concept in India way back in 1987.


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Hardware:
http://en.wikipedia.org/wiki/File:Atm_blockdiagram.png


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An ATM is typically made up of the following devices:

CPU: to control the user interface and transaction devices Magnetic and/orChip card reader: to identify the customer PIN Pad (similar in layout to a Touch tone orCalculatorkeypad),

often manufactured as part of a secure enclosure.

Secure crypto processor, generally within a secure enclosure.

Display: used by the customer for performing the transaction Function keybuttons (usually close to the display) or a Touch

screen: used to select the various aspects of the transaction

Record Printer: to provide the customer with a record of theirtransaction

Vault: to store the parts of the machinery requiring restrictedaccess

Housing: for aesthetics and to attach signage to
http://en.wikipedia.org/wiki/CPUhttp://en.wikipedia.org/wiki/Magnetic_stripe_cardhttp://en.wikipedia.org/wiki/Chip_cardhttp://en.wikipedia.org/wiki/Personal_identification_numberhttp://en.wikipedia.org/wiki/Touch_tonehttp://en.wikipedia.org/wiki/Calculatorhttp://en.wikipedia.org/wiki/Secure_cryptoprocessorhttp://en.wikipedia.org/wiki/Function_keyhttp://en.wikipedia.org/wiki/Touchscreenhttp://en.wikipedia.org/wiki/Touchscreenhttp://en.wikipedia.org/wiki/Bank_vaulthttp://en.wikipedia.org/wiki/Bank_vaulthttp://en.wikipedia.org/wiki/Bank_vaulthttp://en.wikipedia.org/wiki/Touchscreenhttp://en.wikipedia.org/wiki/Touchscreenhttp://en.wikipedia.org/wiki/Function_keyhttp://en.wikipedia.org/wiki/Secure_cryptoprocessorhttp://en.wikipedia.org/wiki/Calculatorhttp://en.wikipedia.org/wiki/Touch_tonehttp://en.wikipedia.org/wiki/Personal_identification_numberhttp://en.wikipedia.org/wiki/Chip_cardhttp://en.wikipedia.org/wiki/Magnetic_stripe_cardhttp://en.wikipedia.org/wiki/CPU


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Recently, due to heavier computing demands and the falling price

of computer-like architectures, ATMs have moved away from custom

hardware architectures using microcontrollers and/orapplication-

specific integrated circuits to adopting the hardware architecture of

a personal computer, such as, USB connections for peripherals, Ethernetand IP communications, and use personal computer operating systems.

Although it is undoubtedly cheaper to use commercial off-the-

shelfhardware, it does make ATMs potentially vulnerable to the same

sort of problems exhibited by conventional computers.
http://en.wikipedia.org/wiki/Microcontrollerhttp://en.wikipedia.org/wiki/Application-specific_integrated_circuithttp://en.wikipedia.org/wiki/Application-specific_integrated_circuithttp://en.wikipedia.org/wiki/Personal_computerhttp://en.wikipedia.org/wiki/Commercial_off-the-shelfhttp://en.wikipedia.org/wiki/Commercial_off-the-shelfhttp://en.wikipedia.org/wiki/Commercial_off-the-shelfhttp://en.wikipedia.org/wiki/Commercial_off-the-shelfhttp://en.wikipedia.org/wiki/Personal_computerhttp://en.wikipedia.org/wiki/Application-specific_integrated_circuithttp://en.wikipedia.org/wiki/Application-specific_integrated_circuithttp://en.wikipedia.org/wiki/Microcontroller


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Software:With the migration to commodity PC hardware, standard

commercial "off-the-shelf" operating systems and programming

environments can be used inside of ATMs. Typical platforms previouslyused in ATM development include RMX orOS/2. Today the vast

majority of ATMs worldwide use a Microsoft OS, primarilyWindows orWindows XP Embedded. A small number of deployments

may still be running older versions such as Windows NT, Windows

CEorWindows 2000. Notably, Vista was not widely adopted in ATMs.

A Wincor NixdorfATM running Windows 2000

Linux is also finding some reception in the ATM marketplace. An

example of this is Banrisul, the largest bank in the south ofBrazil, whichhas replaced the MS-DOS operating systems in its ATMs with

Linux. Banco do Brasil is also migrating ATMs to Linux.

Common application layer transaction protocols, such

as Diebold 91x (911 or 912) and NCRNDC or

NDC+provide emulation of older generations of hardware on newer

platforms with incremental extensions made over time to address new

capabilities, although companies like NCR continuously improve these

protocols issuing newer versions (e.g. NCR's AANDC v3.x.y, where x.y

are subversions). Most major ATM manufacturers provide software

packages that implement these protocols. Newer protocols such

as IFX have yet to find wide acceptance by transaction processors.
http://en.wikipedia.org/wiki/RMXhttp://en.wikipedia.org/wiki/OS/2http://en.wikipedia.org/wiki/Microsofthttp://en.wikipedia.org/wiki/Windows_XP_Embeddedhttp://en.wikipedia.org/wiki/Windows_NThttp://en.wikipedia.org/wiki/Windows_CEhttp://en.wikipedia.org/wiki/Windows_CEhttp://en.wikipedia.org/wiki/Windows_2000http://en.wikipedia.org/wiki/Windows_Vistahttp://en.wikipedia.org/wiki/Wincor_Nixdorfhttp://en.wikipedia.org/wiki/Windows_2000http://en.wikipedia.org/wiki/Linuxhttp://en.wikipedia.org/wiki/Banrisulhttp://en.wikipedia.org/wiki/Brazilhttp://en.wikipedia.org/wiki/MS-DOShttp://en.wikipedia.org/wiki/Banco_do_Brasilhttp://en.wikipedia.org/wiki/Dieboldhttp://en.wikipedia.org/wiki/NCRhttp://en.wikipedia.org/wiki/NDChttp://en.wikipedia.org/wiki/NDChttp://en.wikipedia.org/wiki/Hardware_emulationhttp://en.wikipedia.org/wiki/Interactive_Financial_Exchangehttp://en.wikipedia.org/wiki/File:Postomat-Windows-p1020441.jpghttp://en.wikipedia.org/wiki/File:Postomat-Windows-p1020441.jpghttp://en.wikipedia.org/wiki/File:Postomat-Windows-p1020441.jpghttp://en.wikipedia.org/wiki/File:Postomat-Windows-p1020441.jpghttp://en.wikipedia.org/wiki/Interactive_Financial_Exchangehttp://en.wikipedia.org/wiki/Hardware_emulationhttp://en.wikipedia.org/wiki/NDChttp://en.wikipedia.org/wiki/NDChttp://en.wikipedia.org/wiki/NCRhttp://en.wikipedia.org/wiki/Dieboldhttp://en.wikipedia.org/wiki/Banco_do_Brasilhttp://en.wikipedia.org/wiki/MS-DOShttp://en.wikipedia.org/wiki/Brazilhttp://en.wikipedia.org/wiki/Banrisulhttp://en.wikipedia.org/wiki/Linuxhttp://en.wikipedia.org/wiki/Windows_2000http://en.wikipedia.org/wiki/Wincor_Nixdorfhttp://en.wikipedia.org/wiki/Windows_Vistahttp://en.wikipedia.org/wiki/Windows_2000http://en.wikipedia.org/wiki/Windows_CEhttp://en.wikipedia.org/wiki/Windows_CEhttp://en.wikipedia.org/wiki/Windows_NThttp://en.wikipedia.org/wiki/Windows_XP_Embeddedhttp://en.wikipedia.org/wiki/Microsofthttp://en.wikipedia.org/wiki/OS/2http://en.wikipedia.org/wiki/RMX


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With the move to a more standardized software base, financial

institutions have been increasingly interested in the ability to pick and

choose the application programs that drive their

equipment. WOSA/XFS, now known as CEN XFS (or simply XFS),

provides a common API for accessing and manipulating the variousdevices of an ATM. J/XFS is a Java implementation of the CEN XFS

API.

While the perceived benefit of XFS is similar to the Java's "Write

once, run anywhere" mantra, often different ATM hardware vendors

have different interpretations of the XFS standard. The result of these

differences in interpretation means that ATM applications typically use

a middleware to even out the differences between various platforms.

With the onset of Windows operating systems and XFS on ATM's,

the software applications have the ability to become more intelligent.

This has created a new breed of ATM applications commonly referred to

as programmable applications. These types of applications allows for an

entirely new host of applications in which the ATM terminal can do

more than only communicate with the ATM switch. It is nowempowered to connect to other content servers and video

banking systems.

Notable ATM software that operates on XFS platforms include

Triton PRISM, Diebold Agilis Empower, NCR APTRA Edge, CR2

Bank World, KAL Kalignite, Phoenix Interactive VISTAatm,

and Wincor Nixdorf ProTopas.

With the move of ATMs to industry-standard computing

environments, concern has risen about the integrity of the ATM's

software stack.
http://en.wikipedia.org/wiki/WOSA/XFShttp://en.wikipedia.org/wiki/CEN/XFShttp://en.wikipedia.org/wiki/APIhttp://en.wikipedia.org/wiki/J/XFShttp://en.wikipedia.org/wiki/Write_once_run_anywherehttp://en.wikipedia.org/wiki/Write_once_run_anywherehttp://en.wikipedia.org/wiki/Middlewarehttp://en.wikipedia.org/wiki/Video_bankinghttp://en.wikipedia.org/wiki/Video_bankinghttp://en.wikipedia.org/wiki/Dieboldhttp://en.wikipedia.org/wiki/NCRhttp://en.wikipedia.org/wiki/Wincor_Nixdorfhttp://en.wikipedia.org/wiki/Wincor_Nixdorfhttp://en.wikipedia.org/wiki/Wincor_Nixdorfhttp://en.wikipedia.org/wiki/NCRhttp://en.wikipedia.org/wiki/NCRhttp://en.wikipedia.org/wiki/Dieboldhttp://en.wikipedia.org/wiki/Video_bankinghttp://en.wikipedia.org/wiki/Video_bankinghttp://en.wikipedia.org/wiki/Middlewarehttp://en.wikipedia.org/wiki/Write_once_run_anywherehttp://en.wikipedia.org/wiki/Write_once_run_anywherehttp://en.wikipedia.org/wiki/J/XFShttp://en.wikipedia.org/wiki/APIhttp://en.wikipedia.org/wiki/CEN/XFShttp://en.wikipedia.org/wiki/WOSA/XFS


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Security:Security, as it relates to ATMs, has several dimensions. ATMs also

provide a practical demonstration of a number of security systems and

concepts operating together and how various security concerns are dealtwith.

Physical:

A Wincor NixdorfProcash 2100xe Frontload that was opened with

an angle grinder

Early ATM security focused on making the ATMs invulnerable to

physical attack; they were effectively safes with dispenser mechanisms.

A number of attacks on ATMs resulted, with thieves attempting to steal

entire ATMs by ram-raiding. Since late 1990s, criminal groups operating

in Japan improved ram-raiding by stealing and using a truck loaded witha heavy construction machinery to effectively demolish or uproot an

entire ATM and any housing to steal its cash.
http://en.wikipedia.org/wiki/Securityhttp://en.wikipedia.org/wiki/Wincor_Nixdorfhttp://en.wikipedia.org/wiki/Angle_grinderhttp://en.wikipedia.org/wiki/Ram-raidinghttp://en.wikipedia.org/wiki/File:Procash_stolen_1.jpghttp://en.wikipedia.org/wiki/File:Procash_stolen_1.jpghttp://en.wikipedia.org/wiki/File:Procash_stolen_1.jpghttp://en.wikipedia.org/wiki/File:Procash_stolen_1.jpghttp://en.wikipedia.org/wiki/Ram-raidinghttp://en.wikipedia.org/wiki/Angle_grinderhttp://en.wikipedia.org/wiki/Wincor_Nixdorfhttp://en.wikipedia.org/wiki/Security


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Another attack method, plofkraak, is to seal all openings of the

ATM with silicone and fill the vault with a combustible gas or to place

an explosive inside, attached, or near the ATM. This gas or explosive is

ignited and the vault is opened or distorted by the force of the resulting

explosion and the criminals can break in. A plofkraak can be preventedwith a gas protection unit.

Modern ATM physical security, per other modern money-handling

security, concentrates on denying the use of the money inside the

machine to a thief, by means of techniques such as dye

markers and smoke canisters.

A common method is to simply rob the staff filling the machine with

money. To avoid this, the schedule for filling them is kept secret,

varying and random. The money is often kept in cassettes, which will

dye the money if incorrectly opened.

Transactional secrecy and integrity:The security of ATM transactions relies mostly on the integrity of the

secure crypto processor: the ATM often uses commodity components

that are not considered to be "trusted systems".

Encryption of personal information, required by law in many

jurisdictions, is used to prevent fraud. Sensitive data in ATM

transactions are usually encrypted with DES, but transaction processors

now usually require the use ofTriple DES. Remote Key Loading

techniques may be used to ensure the secrecy of the initialization of theencryption keys in the ATM. Message Authentication Code (MAC)

orPartial MAC may also be used to ensure messages have not been

tampered with while in transit between the ATM and the financial

network.
http://en.wikipedia.org/wiki/Plofkraakhttp://en.wikipedia.org/wiki/Siliconehttp://www.mactwinspecials.com/products/atm_gas_protection_unit/http://en.wikipedia.org/w/index.php?title=Dye_marker&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Dye_marker&action=edit&redlink=1http://en.wikipedia.org/wiki/Smoke_canisterhttp://en.wikipedia.org/wiki/Cryptoprocessorhttp://en.wikipedia.org/wiki/Trusted_systemhttp://en.wikipedia.org/wiki/Data_Encryption_Standardhttp://en.wikipedia.org/wiki/Triple_DEShttp://en.wikipedia.org/wiki/Message_Authentication_Codehttp://en.wikipedia.org/wiki/Partial_MAChttp://en.wikipedia.org/wiki/Partial_MAChttp://en.wikipedia.org/wiki/Message_Authentication_Codehttp://en.wikipedia.org/wiki/Triple_DEShttp://en.wikipedia.org/wiki/Data_Encryption_Standardhttp://en.wikipedia.org/wiki/Trusted_systemhttp://en.wikipedia.org/wiki/Cryptoprocessorhttp://en.wikipedia.org/wiki/Smoke_canisterhttp://en.wikipedia.org/w/index.php?title=Dye_marker&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Dye_marker&action=edit&redlink=1http://www.mactwinspecials.com/products/atm_gas_protection_unit/http://en.wikipedia.org/wiki/Siliconehttp://en.wikipedia.org/wiki/Plofkraak


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Customer identity integrity:

A BTMU ATM with a palm scanner(to the right of the screen)

There have also been a number of incidents of fraud by Man-in-

the-middle attacks, where criminals have attached fake keypads or card

readers to existing machines. These have then been used to record

customers' PINs and bank card information in order to gain unauthorized

access to their accounts. Various ATM manufacturers have put in place

countermeasures to protect the equipment they manufacture from these

threats.

Alternate methods to verify cardholder identities have been tested and

deployed in some countries, such as finger and palm vein patterns, iris,

and facial recognition technologies. However, recently, cheaper mass

production equipment has been developed and being installed in

machines globally that detect the presence of foreign objects on the front

of ATMs, current tests have shown 99% detection success for all types

ofskimming devices.
http://en.wikipedia.org/wiki/The_Bank_of_Tokyo-Mitsubishi_UFJhttp://en.wikipedia.org/w/index.php?title=Palm_scanner&action=edit&redlink=1http://en.wikipedia.org/wiki/Man-in-the-middle_attackhttp://en.wikipedia.org/wiki/Man-in-the-middle_attackhttp://en.wikipedia.org/wiki/Iris_recognitionhttp://en.wikipedia.org/wiki/Facial_recognitionhttp://en.wikipedia.org/wiki/Skimming_(credit_card_fraud)http://en.wikipedia.org/wiki/File:Japanese_ATM_Palm_Scanner.jpghttp://en.wikipedia.org/wiki/Skimming_(credit_card_fraud)http://en.wikipedia.org/wiki/Facial_recognitionhttp://en.wikipedia.org/wiki/Iris_recognitionhttp://en.wikipedia.org/wiki/Man-in-the-middle_attackhttp://en.wikipedia.org/wiki/Man-in-the-middle_attackhttp://en.wikipedia.org/w/index.php?title=Palm_scanner&action=edit&redlink=1http://en.wikipedia.org/wiki/The_Bank_of_Tokyo-Mitsubishi_UFJ


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Device operation integrity:

ATMs that are exposed to the outside must be vandal and weather

resistant.

Openings on the customer-side of ATMs are often covered by

mechanical shutters to prevent tampering with the mechanisms when

they are not in use. Alarm sensors are placed inside the ATM and in

ATM servicing areas to alert their operators when doors have beenopened by unauthorized personnel.

Rules are usually set by the government or ATM operating body

that dictate what happens when integrity systems fail. Depending on

the jurisdiction, a bank may or may not be liable when an attempt is

made to dispense a customer's money from an ATM and the money

either gets outside of the ATM's vault, or was exposed in a non-securefashion, or they are unable to determine the state of the money after a

failed transaction. Bank customers often complain that banks have

made it difficult to recover money lost in this way, but this is often

complicated by the bank's own internal policies regarding suspicious

activities typical of the criminal element.
http://en.wikipedia.org/wiki/File:Worn_ATM.jpghttp://en.wikipedia.org/wiki/File:Worn_ATM.jpghttp://en.wikipedia.org/wiki/File:Worn_ATM.jpghttp://en.wikipedia.org/wiki/File:Worn_ATM.jpg


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Process:In order to access an ATM, a customer has to insert a plastic

ATM card with a magnetic stripe or with a plastic smart card

attached with a chip in the specific slot in the ATM machine. Thecard inserted contains various encrypted data including the account

details of the card holder. You can use various services through these

ATMs. You can withdraw money as well as can deposit it, can check

your balance, can deposit your cheques and many more. Different

terms have been used for ATMs such as automated banking machine,

hole in the wall, cash point, Bancomat, cash machine and one or two

other names

How ATM Machine Processing works?When you process ATM transactions through ATMdepot.com your

ATM machine dials a toll free number to begin the authorization

process.

To begin with, we will have to program or re-programmed your ATMmachine with a TID (terminal ID number). This is the number that

identifies your ATM machine on our ATM processing system.

This is how the networks (see below) allow the transaction to be

completed. This TID along with other identifying information lets the

cardholder's bank know that the transaction is taking place on your

ATM.

Now your ATM can connect to the networks through our processing

center and then to the cardholders bank. If there are sufficient funds in

the ATM cardholders account for the withdrawal request, the transaction

will be completed.


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Once transactions are approved the ATM receives the authorization and

dispenses the cash requested. Your ATM can also be used if someone

ust wants to check their account balance or transfer funds before or after

withdrawing cash. There is no surcharge convenience fee charged by

your ATM for non-cash withdrawal transactions.

What is an ATM network? If you take your ATM card out of your wallet

now, you will see network logos (also known as bugs) on the back:

You might notice that the Cirrus bug looks similar to the Master Card

logo. That's because its the ATM processing network of Master Card.

The Plus network is the ATM side of Visa. Plus and Cirrus are theNational ATM networks. All other logos and bugs are regional

networks.

As the owner of an ATM you would set the surcharge fee, we would

process the transactions, and then put the funds withdrawn from your

ATM back into your bank account the next business day with the cut off

being 3pm PT each business day. We then pay you the surcharge at the

end of each month.


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Card fraud:The concept and various methods of copying the contents of an ATM

card's magnetic stripe on to a duplicate card to access other people'sfinancial information was well known in the hacking communities by

late 1990.

In an attempt to prevent criminals from shoulder surfing the

customer's PINs, some banks draw privacy areas on the floor.

For a low-tech form of fraud, the easiest is to simply steal a customer'scard. A later variant of this approach is to trap the card inside of the

ATM's card reader with a device often referred to as a Lebanese loop.

When the customer gets frustrated by not getting the card back and

walks away from the machine, the criminal is able to remove the card

and withdraw cash from the customer's account.

Another simple form of fraud involves attempting to get the customer's

bank to issue a new card and stealing it from their mail.

By contrast, a newer high-tech method of operating sometimes

called card skimming orcard cloning involves the installation of a

magnetic card reader over the real ATM's card slot and the use of a

wireless surveillance camera or a modified digital camera to observe the

user's PIN. Card data is then cloned onto a second card and the criminal

attempts a standard cash withdrawal. The availability of low-costcommodity wireless cameras and card readers has made it a relatively

simple form of fraud, with comparatively low risk to the fraudsters.
http://en.wikipedia.org/wiki/Shoulder_surfing_(computer_security)http://en.wikipedia.org/wiki/PINhttp://en.wikipedia.org/wiki/Lebanese_loophttp://en.wikipedia.org/wiki/Lebanese_loophttp://en.wikipedia.org/wiki/PINhttp://en.wikipedia.org/wiki/Shoulder_surfing_(computer_security)


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Acknowledgement

This has been a great pleasure for us to do the presentation on

subject called Information Technology in Banking & Insurance.

The topic was ATM Services.

Im thankful to our Madam Mrs. Jyoti for providing us valuable

information about the presentation and also for giving us this beautiful

opportunity which will help us to develop our self and also to increase

our confidence level.

Im also greatful to Mrs. S. S. Deo the co-ordinator of Banking

& Insurance department.

Date: 1st

Oct 10 Sign:

(Mrs. Jyoti)

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