For people who live in the United States of America or breathe fresh air, chances are you will experience data breach. According to Equifax, almost one hundred and forty-three million Americans or half of the nation have their data compromised.
When talking about cybersecurity breach, the experience of companies is beyond normal individuals. It is simply because of the crucial and sensitive information risk involved. This information may include driver’s licenses, social security numbers and even physical addresses.
A good example of the growing risks to ATMs can be noticed across the globe and in the US. Many criminals have been carrying out severe damage to ATMs in order to steal cash. This content will unveil certain data breach that people should be aware of.
Hackers and hostile players have been orchestrating several methods to manipulate and re-program ATMs in Europe, Mexico and the US. Out of the attempts of these hostile actors came into prevalence the jackpotting strategy.
After reprogramming, it is possible for hackers and fraudsters to control ATMs. With the jackpotting technique, fraudsters have the ability to regulate how ATMs release funds. It can either be in a given time or on-demand during the day.
ATM Ram Raids:
Hackers and online hostile players are growing in population at the moment, especially around Europe and Australia. In most cases, you will find hackers perpetrating their evil deeds on the soil of the US. One of the most effective attacks on ATMs is ram raids.
This method has been able to fetch hackers tons of dollars without any difficulties. After card skimming, ram raid is now in the second position for cyber attack. The effectiveness of the ram raid method has made experts believe that it can be dangerous for any financial institution.
Chip Skimming Prototypes:
While on the surface, it may be difficult to detect periscope skimmers. The cyber world is already experience a huge trend of fear due to this new brand of cyber attack. This technique is used by hackers to gush out tons of dollars in a huge way.
First, the hacker will have to attack the skimmer within the ATM and get it working. Through a universal or stolen key, the process will be achieved while the device is attached in well-programmed operational mode.
When the automated teller machine is at work, the installed device will now have the capability of stealing card numbers. The EMV chip technology can be corrupted by card-reading skimmers. This is because the device will prevent any skimming from occurring.
Since people are likely getting the scope of the technique, hackers are jumping off ship to try new methods. For the skimming attack to occur, you are likely going to see a skimmer within the ATM card reader. With this architecture, both the chip card and reader will fail to communicate.
The private account number and expiring date are some of the information that the device blocks. Experts believe that the ship skimming method is one of the best ways hackers can steal money from ATMs. Hackers are favored when there is a compromise in the skimming process.
When financial institutions or issuing banks did not stop the payment process, then hackers will always smile home with huge cash. One amazing thing about the EMV card is that you cannot skim it. If a hacker wants to use the EMV chip to duplicate a card or purchase online, the issuing bank will be notified.
Banks and financial institutions should educate their employees on attacks that may occur with ATMs. Another important thing that banks can do is by taking note of automated teller machine operations.
The right authorities should handle the case of robbery or credit cards. Banks should always be ready to use a counter procedure because it is impossible to stop attacks.