The Current State of Cybersecurity for ATMs

There has been a growing number of cyberattacks against ATMS and central servers, which are the systems that control ATMs.

This pressing threat has resulted in the theft of personal data, such as account numbers and pin codes.

However, these types of attacks still require further actions to convert the data into money, so a simpler effort for ATM cyber-criminals is to obtain the cash directly from the ATM they have targeted.

One form of ATM cyberattacks is 'jackpotting', where cyber-criminals exploit the physical and/or software-based vulnerabilities of an ATM to try and obtain cash.

This action has been popular as it provides an immediate reward; in the last five years, financial organisations from around the world have lost millions because of jackpotting.

For example, the Ploutus family of ATM malware first discovered in Mexico in 2013 has accumulated a loss of over 450 million dollars (398 million Euros) globally.

How serious are the vulnerabilities in ATMS for Cyber-attacks?

Read on to find out more.