Defend against the coming attack on ATMs across the globe

The FBI recently announced that financial institutions need to prepare themselves for a large-scale ATM fraud scheme that is coming in the next few days.

According to a recently published Krebs on Security article,i this highly choreographed, global ‘ATM cash-out’ scheme will leverage malware to “hack a bank or payment card processor and use cloned cards at cash machines around the world to fraudulently withdraw millions of dollars in just a few hours.”

This article also shed light on the fact that the criminals involved will manipulate fraud controls, security measures, and account balances to remove withdrawal limitations and allow for massive amounts of cash to be quickly stolen from the ATM during each fraudulent transaction.

The FBI is urging that financial institutions review current security layers to ensure you are protecting the thousands – or even millions – of dollars inside your ATMs.


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