0 Members and 1 Guest are viewing this topic.
The Federal Bureau of Investigation has warned banks in the U.S. of an impending cybercrime, a heist called an "ATM cash-out," in which thieves seek to swipe millions of dollars by using cloned ATM cards for fraudulent withdrawals.This globally organized effort could be instigated soon, the FBI told banks Friday, with cybercriminals attempting to amass millions of dollars within a few hours, according to the confidential alert obtained by security researcher Brian Krebs.
I have never used an ATM.
Organized crime gangs typically hack into a bank or payment processor to remove fraud controls, such as maximum withdrawal amounts and limits on number of daily customer ATM transactions, Krebs says. Account balances and security measures within the institution are altered to make an unlimited amount of money available at the time of the illegal transactions.
To commit the crime, cyber criminals create fake bank cards by imprinting stolen credit card data on blank magnetic strip cards, the FBI said. "At a pre-determined time, the co-conspirators withdraw account funds from ATMs using these cards,” the agency said.
Okay. But I am pretty sure my accounts are set up to NOT be accessed through ATM. I have a vague memory of doing something like that many years ago. Does that sound possible?