The number of privately owned or operated ATMs has increased over the past few years. The reasons businesses and individuals own ATMs varies. The ATMs generate income for their owners and require little time to maintain. In addition, they are convenient for the business’ customers to obtain cash.
The ATMs may be beneficial to their owners, but can mean increased risk to the Credit Union that serves the owner. There are few regulatory requirements for the owners so nearly anyone can own one or 100. There is increased money laundering risk associated with the machines. Money from illegal activities can be used to fill the machine, customers make withdrawals and clean money is sent to the ATM owner or operator via ACH deposits to settle the transactions.