I work for a financial institution. This problem is due to complete ignorance of banks on best security practices. Their global ATM lacks simple velocity checks

I work for a financial institution. This problem is due to complete ignorance of banks on best security practices. Their global ATM lacks simple velocity checks. Such can never be made in real-time as data has to be aggregated globally to detect the total money flows from certain financial institutions, but given the manual handling of ATM withdrawals, a minute delay would be acceptable. Simply sum all withdrawals, not per card number, but per financial institution (per BIC-code), and measure the money flowing out per time unit. If it exceeds a multiple of X times the average for what's normal on that day, raise an alarm to investigate manually. Such velocity checks would never work if only looking at withdrawals in a single ATM and still not good enough if they would measure all withdrawals in a single banks all ATMs as there are so many banks. Banks need to cooperate in developing a global anti-fraud system. Unfortunately they still use COBOL and don't lose enough money on these things to find the motivation to do it.