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Thursday, 16 August 2018 - 14:16
Global cash machines face imminent cyber-attack, warns FBI
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Bank ATMs around the world are at risk of an "imminent" cyber-attack with millions of dollars expected to disappear from accounts, according to a confidential alert by the US Federal Bureau of Investigation.
 
The warning issued by the FBI to international banks on Friday revealed that cybercriminals are planning a massive malware attack on ATMs across the globe in the next few days.
 
“The FBI has obtained unspecified reporting indicating cybercriminals 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',” the report obtained by cyber-security expert Brian Krebs reads.
 
The analyst warned global lenders of a highly choreographed, global fraud scheme known as an “ATM cash-out.”
 
The criminals are reportedly planning to hack a bank or payment card processor and use cloned cards at cash machines around the world to withdraw millions of dollars in a few hours.
 
 The similar fraud operation was carried out in 2009 when around $9 million was cleaned out from cash machines worldwide.
 
According to the report, small-to-mid-sized banks that haven't upgraded their equipment and software to the latest security standards are at higher risk.
 
“Historic compromises have included small-to-medium size financial institutions, likely due to the less robust implementation of cybersecurity controls, budgets, or third-party vendor vulnerabilities,” the statement reads.
 
“The FBI expects the ubiquity of this activity to continue or possibly increase in the near future.”
 
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