Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

CU System
ATM attacks more sophisticated says Javelin
PLEASANTON, Calif. (4/12/09)--ATM attacks have become more sophisticated--shifting from traditional skimming to use of malware inside ATMs or ATM networks, fraudulent mobile alerts and account takeover from stolen information, according to a new report. Attacks have been reported in which maintenance crews opened up ATMs and installed malware, according to a Javelin Strategy and Research study. ATM manufacturer Diebold issued a security update last year for its ATMs after they were attacked by criminals who installed malware to steal sensitive customer information (Financial Services Information Security News April 6). Individuals can gain access to sensitive information in ATMs via administrative privileges to encrypted personal identification number (PIN) data, then use a computer to reverse the PIN encryption, said Robert Vamosi, analyst at Javelin Strategy and Research. Other attacks have involved sending customers fake message alerts asking for account information. Criminals then use the information to create a cloned card, the publication said. The financial services industry is moving toward Triple Data Encryption Standard for all ATMs that will help prevent such attacks. Other steps financial institutions can take to protect their ATMs include using security software that guards against malware and using encrypted PIN pads in ATMs that are Payment Card Industry Data Security Standard-compliant, Vamosi added. About 10% of fraud victims experienced fraudulent ATM withdrawals, Javelin said. About 23% of those with the fraudulent withdrawals left their primary financial institution.


RSS





print
News Now LiveWire
Watching #SuperBowlXLIX this Sunday? Look for regional #creditunion #commercials @CltMetroCU @BECU @golden1cu #Seahawks #Patriots
1 day ago
Philadelphia's American Bakery Workers FCU liquidated by @TheNCUA; @trumarkonline assumes shares
1 day ago
More branch shutterings by @Citi: 4th-largest bank to close 10% of #Chicago area branches HT @CrainsChicago http://t.co/2vAvgucLY5
1 day ago
56% struggle with subprime credit scores says @cfed survey HT @washingtonpost http://t.co/RHmMvuhNtw
1 day ago
How to use social media for crisis communications Feb. 10 webinar from @SBAgov, @AgilityRecovery http://t.co/d16t8RHr7n
1 day ago