A Survey of Threats to Automatic Teller Machine (ATM) Payment System in Nigeria

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Jackson Akpojaro
Ugochukwu Onwudebelu


The introduction of ATM brought relief to Nigerian banking environment as long queues in the banking hall began to wane; most customers applauded the innovation and opted to transact business through the ATM. However, this relief did not last long as incidences of ATM frauds resulted in decline in customers’ confidence. The ATM, a painless access to cash, is now fraught with all kinds of problems and is proving to be a pain in the neck of customers who use it. It has turned out not to be the dream relief it promised as many bank customers have jettisoned their ATM cards and opted to use the old system of cashing money in the banking halls. Like most technology advances, there is always a flaw which criminal-minded individuals identify and exploit to perpetuate fraud. In this paper, we survey and identify sources of threats to ATM victims and their relationships between ATM attackers via the threats and recommendations are made to minimize these threats.

Keywords: ATM fraud, ATM clone, skimmers, closed-circuit television


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