Banks in Europe are warning about the emergence of a rare, virtually invisible form of ATM skimmer involving a so-called “wiretapping” device that is inserted through a tiny hole cut in the cash machine’s front. The hole is covered up by a fake decal, and the thieves then use custom-made equipment.
A nonprofit that represents banks in many countries, financial institutions in two countries recently reported ATM attacks in which the card data was compromised internally by “wire-tapping” or “eavesdropping” on the customer transaction. The image below shows some criminal equipment used to perpetrate these eavesdropping attacks.Read more
What do you need in order to withdraw cash from an ATM? First, you need to have a debit or credit card, which acts as a key to your bank account. Second, you must know the PIN code associated with the card; otherwise, the bank wouldn’t approve the transaction.
Finally, you need to have some money in your account that you can withdraw. However, hackers do things differently: they don’t need cards, PIN codes or bank accounts to get money. In reality, all they need is an ATM with some cash in it and a special piece of software. Earlier this year, at the request of a financial institution, experts performed a forensic investigation into a cyber-criminal attack that targeted multiple ATMs in Eastern Europe.Read more