ATM Jackpotting: Everything You Must Know

ATM jackpotting are sophisticated and logical attacks on ATM where the cyber thieves attach malicious hardware or software to the machines. Although these malicious acts had been circulating for a couple of years since the first attack in Mexico, it is now becoming a threat to the US.


How does it work?

According to the experts, the cybercriminals shall install a malware by using a tube-like camera device, similar to medical endoscopes. By the time they find a perfect spot to attach their own computer cable, they will start to sync the ATM’s private data with their own, enabling them to control the machine anytime.

Should you worry about this as a consumer?

If you are a consumer, you do not have to worry anything. According to some security experts, ATM jackpotting does not jeopardize consumer’s funds or information; in fact, there are no reported consumers as victims. The ATM jackpotting is not an issue for consumers; it befalls on the owners of the ATM machines, banks, enterprises, and other financial institutions.

  • How can it be avoided?

Even though cybercriminals are very cautious and are very clever when it comes to sophisticated move in stealing money, there are ways to stop it, by using secured procedures and machines that will enable to catch the criminals off guard.

  • The head of the compartment should be secured

Experts suggest that a well-secured ATM machine can avoid theft, especially the head of the compartment where most cyber thieves attached their malicious devices.

  • Installation of up-to-date firmware with encryption

According to the experts, the ATM’s Bios configuration must be well-secured that the thieves will have difficulties accessing the most sensitive information such as the password and other sensitive codes; the unified endpoint management is one of many ways in securing device configuration and increasing data security. Additionally, the endpoint management security platform is built with communication encryption between the core software of the ATM and the cash dispenser, disabling the attackers from controlling the cash-out commands.

Cyber thefts are prevalent; sadly, cyber thieves are getting clever every time there are newly developed devices. Now, these criminals have created a new wave of ATM jackpotting, threatening hundreds of bank owners and financial institutions. However, these situations can be de-escalated by adding special features on ATM machines, disabling criminals from finding new vulnerabilities. If you want to learn some more about ATM jackpotting, try visiting Accelerite’s website or follow them on their social media account.