Besides giving us easier ways to perform several activities, technology has also facilitated several scams. The latest one recorded is the hacking of ATM via malware as reported by a Russian cybersecurity firm.
Russian Cybersecurity Firm Explains Malware ATM Attacks
Group IB said that some ATMs have been spitting cash out without any physical tampering of the machines. There has been no change in the settings or configuration of the machines as observed. The firm claimed that the centralized systems are being affected by malware called "touchless jackpotting." This way, the groups of machines start issuing cash at the same time, leading to a huge cash flow.
Although Group IB did not specifically mention the names of the banks suffering from the loss of cash through ATMs, it has named the nations that have been affected by the malware ATM hack. These include Estonia, the Netherlands, Armenia, Poland, Spain, Russia and Britain.
FBI On Malware ATM Attacks Worldwide; Russian Gang Buhtrap To Blame?
Apart from the nations mentioned, Taiwan and Thailand have also reportedly suffered from the ATM hacking issues, according to Fortune. The cybercriminals there have been able to grab millions of dollars in early 2016. The FBI has issued a warning about the possible similar attacks in the US and other countries. The bureau believes that the hacking of the cash machines might have links with Russian gang Buhtrap.
The gang members possibly used malicious software to hack personal details of the users and release cash in huge amounts. The FBI said in October that it was inspecting the malware ATM hacking cases along with the cyber criminals who were targeting other nations, including the US.
Meanwhile, Group IB Dmitry Volkov told the BBC that the malware attack on the cash machines, if successfully conducted, can lead to grabbing of up to $400,000 at one time. He said that Russia was not experiencing such attacks only recently but that it has been witnessing this since 2013. "The threat is critical. Attackers get access to an internal bank's network and critical information systems. That allows them to rob the bank," he said.