The Anunak/Carbanak gang continues to rob financial services firms and retailers, in part with ATM malware. A new report says the cybercrime gang has stolen up to $1 billion from banks in Russia, the U.S. and beyond.
Researchers demonstrate how ATMs could be hacked - without installing malware - by connecting a tiny computer to an inside port, bypassing the ATM's own computer and instructing the cash dispenser to begin issuing money.
ATM skimming attack sophistication, and recent global upticks in ATM cash-out schemes, have put a spotlight on ATM-related fraud. Banking institutions, in particular, have struggled to keep up with some of these emerging ATM fraud schemes. One challenge banks and credit unions face is that their ATM networks are often...
Criminals have infected at least 50 ATMs in Eastern Europe, including Russia, with malware, dispensing millions of dollars in cash directly to money mules. Interpol warns such attacks could spread worldwide.
The FFIEC has issued notices spelling out its expectations for the steps that financial institutions should take to mitigate risks posed by ATM cash-out schemes and the continued DDoS attacks on public-facing websites.
Seventeen individuals are facing charges for their alleged roles in an international ATM skimming and money laundering scheme. The indictments of multiple individuals for a low fraud amount is encouraging, experts say.
Another organized cyber-attack and subsequent cash-out scheme illustrates increasing risks to the U.S. payments chain. One fraud expert says this trend "is of grave concern" for banking institutions and their accountholders.
Financial fraud expert Joe Rogalski explains why card issuers are ultimately responsible for losses linked to ATM cash-out schemes, like the $45 million worldwide cyberheist that made headlines last month.
How could global fraudsters steal $45 million from banking institutions without being detected or stopped? It was a process breakdown, not a technology failure, says fraud expert Avivah Litan of Gartner.
Authorities have shuttered a digital currency service allegedly used to launder funds stolen in a $45 million ATM cash-out scheme exposed earlier this month. Learn why experts say lax laws paved the way for the fraud.