This paper aims to analyze risk factors in ATM transactions. Both qualitative and quantitative methods are employed to address risk factors and their origin, and then tailor some fundamental measures to tackle such risks. The study has pointed out some risks such as short-changing, robbery, wrong debit, ATM skimming, etc. in ATM transactions. | 54 | Phan Đình Nguyên & Lưu Thị Phi La Risks in ATM Transactions Risks in ATM Transactions PHAN ĐÌNH NGUYÊN* & LƯU THỊ PHI LA** ABSTRACT This paper aims to analyze risk factors in ATM transactions. Both qualitative and quantitative methods are employed to address risk factors and their origin, and then tailor some fundamental measures to tackle such risks. The study has pointed out some risks such as short-changing, robbery, wrong debit, ATM skimming, etc. in ATM transactions. Keywords: Risks, transaction, ATM, banking 1. INTRODUCTION In recent years, together with breakthroughs in IT and telecommunication techniques, the security and safety of card payment have raised great concerns to both card dispenser and users. In Vietnam, ATM-related risks have yet to be thoroughly considered and thereby wasting a great deal of time to investigate and tackle the problem, or even discrediting banking services and causing damages to both card dispensers and users. Local newspapers and the Internet have written on plenty of lethal electric shocks in ATMs; and this is also a factor of risk to ATM users. Card-based payment modes contain some elements of risk. Together with IT development, ATM hacking has become more and more sophisticated. Gaps in the legal system have unintentionally been a shelter for hi-tech criminals who have caused tremendous damage to the national banking system and card users. During the past two years, mass media have broadcast problems and risks related to ATM transactions, especially robberies. Not only do they snatch the money of card users, but they also use chain saw to cut the machines and heist money from ATMs. Moreover, bank staff has also partly contributed to the risks due to their mistakes. Banks are facing problems with card-based transactions every day. Some research on risks in ATM transactions have been undertaken by Liang (2000) and Kolbitsch (2000). Nonetheless, they only focused on technical aspects of the ATM transaction system and .
