Jump to content
House Price Crash Forum

Archived

This topic is now archived and is closed to further replies.

interestrateripoff

Hackers Devise Wireless Methods For Stealing Atm Users' Pins

Recommended Posts

http://www.businessweek.com/articles/2014-05-08/hackers-can-steal-atm-users-pins-wirelessly#r=rss

Pilfering the personal identification numbers of financial accounts, a potential jackpot for hackers, is tougher to pull off thanks to data encryption and other security technologies. Yet the arms race continues: Hackers are devising more creative methods to intercept PINs at ATMs, the clearest path to instant cash. “It just blows you away how sophisticated these folks are in thinking this stuff up,” says Bryan Sartin, director of the team at Verizon Communications (VZ) that investigates data breaches.

Schemes to steal PINs from ATMs and similar machines now include Hollywood-style corporate espionage, Sartin says. Crooks have long fitted ATMs and gas pumps with phony number pads and card readers to retrieve debit card PIN data. That was a risky approach, because they had to set up the equipment and then come back to remove it without getting caught. Now, with banks using wireless Internet connections to monitor ATM cash flow and update software, hackers can filch PINs remotely, according to a Verizon report. Fraudsters are also taking an Ocean’s Eleven approach—getting jobs with technical-support companies that give them access to ATMs, then installing malware that can transmit PIN data to an e-mail address or a phone.

Regulators at the Federal Financial Institutions Examination Council warned in April that the ATMs of small and midsize banks are preferred targets for criminals who hack bank Web pages to boost ATM withdrawal limits and then clean out people’s accounts. Remote hacks of Web-connected ATMs are a fast-growing problem, says Avivah Litan, an analyst at researcher Gartner. In March, the Federal Bureau of Investigation announced charges against 17 people in an alleged skimming scheme that the FBI says stretched from Bulgaria to Chicago.

Clearly big business for criminals, I wonder what the profit is for them in developing these techniques?

Share this post


Link to post
Share on other sites

I'm refusing to have a RFID enabled credit/debit card since I could build a device to rob people of £15 every time they walk close enough to my briefcase on the Underground - it only challenges for a pin 25% of the time. My assumption is that someone else is as least as clever as me and more evil. Colleagues carry theirs in metal enclosures but you still have to take them out ot pay and it isn't unknown for payment to be taken twice. Once when the RFID chip gives the game away and once when you put the card in the slot not realising they have the RFID reader.

If you have a RFID activated cat flap, see if you can get it to scan your RFID card then you can get in when you've had a skinful and lost your key :D

This technology has been around for decades and was only used on low security building entry systems until the banksters started to use it to throw your money about.

Share this post


Link to post
Share on other sites

I had wondered about this- it's the ultimate in picking people's pocket, and the amounts are small enough so that many people may not even realize they have been robbed.

Wearing my tin foil hat I do wonder if the banks push for digital cash style transactions is a desperate ploy for relevance in a world were the web is starting to eat their lunch. After all if business can fund itself via 'kickstarter' style crowdsourcing, and people can pay using Paypal and soon maybe even a Bitcoin style of currency how long will the banks maintain their hold on the system?

Interposing themselves into the small transaction process may be all that's left to them. :lol:

Share this post


Link to post
Share on other sites

It's fascinating but not surprising how these scam alerts constantly keep us distracted from the real criminals running the banking system itself. It's almost as if the big cheese deliberately make these systems insecure to invite the inevitable scammers to take advantage. I mean, who the hell thought it would be a good idea to operate a "web connected" ATM over a wireless network? :rolleyes:

Share this post


Link to post
Share on other sites

I mean, who the hell thought it would be a good idea to operate a "web connected" ATM over a wireless network? :rolleyes:

A complete moron! Only going to get worst with more and more online and pin-less transactions.

Share this post


Link to post
Share on other sites

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   211 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.