Forest Global Training Partners

Cyber Risks · Krebs on Security

FBI Warns of ‘Unlimited’ ATM Cashout Blitz

Summary: The FBI warned banks privately on a Friday that cybercriminals were preparing a global 'ATM cash-out' scheme, likely tied to an unknown card issuer breach, in which intruders use malware to access card data and network access, then remove withdrawal and transaction limits and alter account balances before cloned cards are used at ATMs worldwide. The alert said historic compromises have hit small-to-medium financial institutions, that virtually all such operations launch on weekends just after banks close on Saturday, and that a prior operation against National Bank of Blacksburg drew almost $570,000 in May 2016 and almost $2 million in January 2017 after attackers phished a bank employee.

What's compelling: An update to the story tied the alert to a breach at India's Cosmos cooperative bank, where thieves ran about 12,000 transactions and took roughly $13.5 million from 25 ATMs in Canada, Hong Kong and India - and the FBI's own advisory notes that attackers strip out maximum withdrawal amounts and daily transaction limits just before the cashout begins.

Read the original at Krebs on Security ↗

Topics
Data Breaches
Related