New Malware Posts Threat to Cash Machines

Cybercriminals are turning their hand to cash machines.

According to a Russian security firm cybercriminals are turning their hand to cash machines.

The firm is warning that malware attacks can strip huge amounts of money from multiple cashpoints.

According to security outfit Group IB criminals can hack the central systems of banks then trigger multiple cash machines to let out money without having to physically access or manipulate machines.

According to the report by the BBC banks in the UK have been hit by these sort of attacks along with other European nations including Armenia, Estonia, the Netherlands, Poland, Russia and Spain.

According to the security firm the attack is known as “touchless jackpotting” and uses malware which spreads itself through the bank’s internal networks. 

Attacks can be pulled off quickly with the fastest time taken to gain control of a banking network being just 10 minutes.

Head of the investigation department at IB, Dmitry Volkov, said: “Logical attacks on ATMs are expected to become one of the key threats targeting banks: they enable cybercriminals to commit fraud remotely from anywhere globally and attack the whole ATM network without being 'on the radar' of security services.

“That said, this type of attack does not require development of expensive advanced software – a significant amount of the tools used are widely available on the deep web. Every bank is under threat of logical attacks on ATMs and should be protected accordingly.”  

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