An ATM is an unmanned computer which provides for financial transactions at a location remote from the financial institution which controls it. Customer access to ATM's is by a plastic card and a personal identification number (PIN). When the card is inserted into the machine and the PIN is correctly entered on the keyboard, the desired transactions are accomplished by the computer. There is little statutory or case law governing the ATM operations in Australia or New Zealand and no requirement that financial institutions must notify the relevant government authorities when unauthorized transactions occur. Consequently, little is known publicly about the extent or nature of ATM fraud or losses. Sample studies indicate that the majority of complaints relate to withdrawal transactions. Many of the incidents involve lost or stolen cards with PIN's available near the cards. Risks can be minimized by ensuring that ATM cards and the PIN are always kept secure and that any account errors, unauthorized transactions, and card loss or theft are immediately reported by the customer to the relevant institution. The core of the problem, however, is that customers generally must rely on the standard conditions of financial transactions for many of their rights. These conditions even where new guidelines have been adopted, may be ambiguous, incomplete, or unsatisfactory, such that the customer's legal position is uncertain. Legislation should be enacted to provide more protection for the consumer. 33 footnotes.