The European ATM Security Team (EAST) and Latin American Association of Operators Electronic Funds Transfer and Information Services (ATEFI) have teamed up to combat all types of payment crime including payment card fraud, hi-tech crime and ATM cyber and physical attacks.
The bodies first engaged when ATEFI presented at the inaugural EAST Financial Crime and Security Forum (EAST FCS) in The Hague in June 2013.
EAST reciprocated by presenting at the first annual Latin American Forum on Security in Payment Systems in Paraguay last November. The two groups have been working together since then.
In his statement about the venture, EAST executive director Lachlan Gunn said: "Today, to further strengthen the relationship, the two organisations agreed to mutual Associate Membership in order to facilitate the sharing of information on crimes affecting the payments industry and to help identify global threats.
"Over the past 13 years ATM-related payment card fraud has been the major issue faced by all of our EAST National Members. Logical and malware attacks are now recognised as an increasing threat. Our National Members, representing 34 countries with a total of over 1.3 million ATMs, welcome this official working relationship with ATEFI and recognise it is of great strategic importance in battling cross border issues," Gunn added.
Mutual Associate Membership allows EAST and ATEFI to exchange strategic data and other non-operational information.