Author Topic: Banks on alert from FBI about potential 'unlimited' ATM heist worth millions  (Read 1769 times)

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Offline Pookie

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Just to give everyone a heads-up . . . :(

https://www.usatoday.com/story/money/business/2018/08/14/fbi-warns-banks-potential-unlimited-atm-heist-worth-millions/985216002/

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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.

Just my  2cents . . . if people used that kind of time, effort and creativity to actually do something USEFUL, instead of taking what doesn't belong to them, the world would be a lot better off.
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Offline Middle Child

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I have never used an ATM.  ;D

Offline Pookie

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I have never used an ATM.  ;D

Oh, well, FINE!   :P
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Offline Lola

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I have never used an ATM.  ;D

It doesn't matter if a person has ever used an ATM or not.  It is the criminals who will be using ATM's to make withdrawals. 

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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.

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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.
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Offline Middle Child

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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?

Offline ThreeStep

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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?

Contact your bank and verify. Lobby lizard aka FSR/CSR has a sales quote to fill and add on products are part of it. Sometimes the sale is not known by the seller.

Offline Lola

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The article, in the link, has a lot of helpful information.... said as nicely as possible.  ;D
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