Agency warns banks of an imminent ‘cashout’ attack by gangs of criminals on cash points around the world
Cyber criminals are planning a highly-coordinated attack on cash machines around the world that could see millions of dollars withdrawn from customer bank accounts, the FBI has warned.
A confidential alert sent to banks stated that the scheme, known as an “ATM cashout”, could take place in the space of just a few hours, most likely on a weekend after banks have closed. The scheme involves cloned cards, together with a hack on a bank or payment processor in order to facilitate the fraudulent withdrawal of funds by gangs of cyber criminals.
“The FBI has obtained unspecified reporting indicating cyber criminals are planning to conduct a global Automated Teller Machine (ATM) cash-out scheme in the coming days, likely associated with an unknown card issuer breach and commonly referred to as an ‘unlimited operation’,” states an FBI alert to banks that was obtained by cyber security expert Brian Krebs.
“Historic compromises have included small-to-medium size financial institutions, likely due to less robust implementation of cyber security controls, budgets, or third-party vendor vulnerabilities. The FBI expects the ubiquity of this activity to continue or possibly increase in the near future.”