As if credit union did not have to enough to worry about now the Secret Service is warning financial institutions of robbers remotely commanding ATMs to spew out cash on command.
It's called jackpotting, a scheme where installed malicious software and/or hardware at ATMs induces the machines to spit out cash to fraudsters at a rate of 40 bills every 23 seconds.
Brian Krebs, in his blog KrebsOnSecurity, noted jackpotting has long threatened European and Asian banks, but the U.S. Secret Service started warning financial institutions of attacks targeting cash machines in the U.S.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Roy Urrico
Roy W. Urrico specializes in articles about financial technology and services for Credit Union Times, as well as ghostwriting, copywriting, and case studies. Also: writer/editor of a semi-annual newsletter for Association for Financial Technology since 1997 and history projects funded by the U.S Interior Department, National Park Service and Warren County (N.Y.).
