In March, Sberbank faced a new kind of money theft from ATMs. It was revealed with the help of advanced technology on big data analyzing.
Fraudsters used the following scheme: they put a card into the ATM and asked for a certain amount of money, and at the moment when the ATM counted the money, transferred it to the internal receiver and was in the process of issuing the card, the person held the card so that it stick in the receiver and then pulled out the money using a special hook. Thus, the ATM did not record money issuing, and the funds were not charged from the card.
It was almost impossible to detect such actions immediately after the fraud. Bank employees found out a shortage only in a few days during ATM cash collection.
The new technology of fraud was revealed and stopped with the help of AI technology. To protect ATMs, Sberbank uses a fraud monitoring system based on artificial intelligence. Advanced software indicated the difference between the amount of loaded and collected amount of money and compared it with the operations performed. AI algorithm analyzed the behavior of bank's customers in a certain period of time (when and where they used their cards, how much money was withdrawn) almost instantly. Conclusions on the basis of the analysis of all the data helped to identify fraudsters very quickly.
Sberbank launched a smart fraud monitoring system at all ATMs of the country. So now fraudsters will not be able to use a new scheme of cash theft from ATMs.