GMV technology provides a solution for Latin America’s ATM cyberfraud problem

Ninety six percent of the world’s organizations are now suffering from cyberattacks. These attacks use sophisticated, state-of-the-art techniques that easily slip through security barriers. ATM technology, for its part, has evolved over time, improving the user’s experience and the range of services and functions offered. The downside of this progress is increasing security problems associated with more open and better-known environments.

GMV, for its part, has taken on responsibility for improving Latin America’s ATM security by installing its inhouse, market-leading checker ATM Security product, building up a market penetration of about 90% in Chile. checker is now up and running in a total of nearly 100,000 ATMs in over 18 countries around the world, including the Latin American countries of Chile, Mexico, Brazil and Colombia, making it a worldwide ATM security benchmark.

According to the latest FireEye reports, Brazil is still the most heavily attacked country of Latin America, followed by Chile and Mexico. Cybernetic crime therefore still represents a threat to individuals and organizations of Latin America as the population’s internet takeup increases along with online banking and payment systems.

The countries reckoned to be most endangered, in the following order, are Brazil, Peru, Mexico, Chile and Argentina. Even though Peru ranks second in this list, Chile in fact suffers a higher number of attacks. This shows that Chile’s security measures are more efficient than in other Latin American countries.

checker is the first ever security product specifically designed and developed to harden the security of financial self-service systems, enabling security to be managed in a centralized way (including control of applications being run at that time), control of local and remote resources accessible from the machine and control of authorized communications. By means of cast-iron security controls, the system ensures the highest possible level of protection, forestalling any infection by viruses, Trojans, worms or any other malware. It also prevents any dangerous software from accessing any sensitive ATM resources.