Warning: ATM global cash-out scheme

This is an important alert to inform you about a scheme that could affect the payments industry.

“Unlimited Operation” Schemes Threaten Financial Institutions

Unspecified reporting obtained by the FBI indicates cyber criminals are planning to conduct a global automated teller machine (ATM) cash-out scheme in the coming days, likely associated with an unknown card issuer breach and commonly referred to as an “unlimited operation.” Such schemes involve the use of malware to access bank customer card information from financial institutions or card processors, enabling large-scale theft of funds from ATMs. Specifically, malware is used to manipulate/remove system controls, including balances, withdrawals, and daily transaction limits. Information obtained in the cyber attack can then be copied, sold, and subsequently used to withdraw an unlimited amount of funds from ATMs. Funds obtained from these schemes are often laundered via conversion to virtual currency, investments in local or regional criminal enterprises, or overseas transfers. 1

ATM cash-out operations are usually launched on weekends, often just after financial institutions begin closing for business on Saturday. These schemes are expected to continue and possibly increase in the future.

 

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