According to the research from Javelin Strategy & Research, that collected data from 3294 Americans online and 4874 by phone, banks need to consolidate their ATMs security as about 10% of US fraud victims have their details used to make withdrawals at ATMs.

About 25% of these victims have already abandoned their financial institution, as the research found.

Javelin also reported criminals have long been skimming consumer PINs by stealing ATMs and installing card readers and fake machines but they are now also employing new techniques. These criminal activities include manipulating ATM software, posing as consumers wanting to change their PIN and sending out false mobile text alerts with requests for personal information.

The company also notes, consumers are not consistently protected on ATM PIN losses. This has contributed to nearly 20% of fraud victims having their credit card or debit card ATM PIN information stolen in 2009, marking a considerable increase over 2008.

Moreover, Javelin warns that fraudsters may increase their attacks on US cash machines as neighbouring countries such as Canada and Mexico migrate to EMV chip cards.

Bank of America, Chase, Citibank and Wells Fargo are among the leaders covering debit ATM PIN losses but, in general, other institutions cover PIN transactions at the register or online, but may not necessarily do so at the ATM.