A dual U.S.-Canadian national has been sentenced to more than 11 years in federal prison for conspiring to launder tens of millions of dollars in wire and bank fraud schemes, according to the U.S. DOJ. Officials say the activity included cash-out scams for North Korean cybercriminals.
Mastercard says that starting in 2024, banks and other institutions that issue its credit and debit cards will no longer need to include a magnetic stripe on the back, and that by 2033, m
agnetic stripes will be extinct. Given magnetic stripes' many security downsides, what's taken so long?
Coordinated police operations across seven European countries resulted in the arrest of two Belarusian hackers by Polish authorities for allegedly committing black box attacks against ATMs. Such attacks cause an ATM cash dispenser to dispense cash on demand.
A Ukrainian national who admitted to working as a system administrator and IT manager for the notorious FIN7 cybercriminal gang, which has been involved in the theft of millions of payment cards, has been sentenced to 10 years in federal prison.
Criminals continue to target ATMs with black boxes to run cash-out attacks and use explosives to get cash out of machines. But during the pandemic, most other types of attacks used to target ATMs, payment terminals and point-of-sale devices sharply declined, a new European study shows.
Older ATMs across Latin America are being struck by a new version of "jackpotting" malware, which can cause the machines to dispense cash. The malware, called Ploutus, can cause ATMs made by Itautec, a Brazilian company, to discharge up to $1,700.
The combination of governmental financial support driven by “high unemployment, business insolvency, and disruptions in global
trade patterns” + increased online and remote banking has led to a spike in
Heightened risks made it harder to comply with requirements to combat financing terrorism...
Point-of-sale device manufacturers Verifone and Ingenico have released fixes for flaws in some of their devices after researchers found the vulnerabilities could have enabled attackers to steal payment card data, clone cards or install malware.
Criminals have been seeking innovative new ways to steal cash from ATMs. In the U.S., there has been a surge in physical attacks, while Europe has seen a sharp increase in "black box" attacks designed to make ATMs dispense cash on demand.
Despite the shift to e-commerce during the pandemic, attacks against POS devices persist. For example, Visa's payment fraud disruption team uncovered recent malware attacks on POS devices used by two North American hospitality companies.
A flaw in how contactless cards from Visa - and potentially other issuers - have implemented the EMV protocol can be abused to bypass PIN verification for high-value transactions, ETH Zurich researchers warn. But Visa says the exploits would be "impractical for fraudsters to employ" in real-world attacks.
Diebold Nixdorf and NCR have issued patches for ATM software vulnerabilities that could enable a hacker with physical access to the devices to commit deposit forgery, according to the Carnegie Mellon University CERT Coordination Center.