Emerging Threat: ATM cash-out Malware Attack

Days after an alert from the FBI to Banks informing them of an “unlimited” global ATM cash-out Malware Attack, the Indian Co-operative Cosmos Bank has been the first reported victim.
 
Official communication from the bank states: "We suspect the malware attack to be done from Canada. The money was withdrawn from ATM machines from 28 countries through around 12,000 international transactions and around 2,849 domestic transactions. The transactions were carried out using fake debit cards. The deposit of account holders is safe and intact. However, as a precautionary measure, we have stopped the online system for two days."
 
Based on reports received, it seems that the cyber crooks stole INR 94.24 crore (USD 13.47 million) through these 12,000 transactions across 28 countries.
 
As per the FBI alert, the targets of this attack are “small-to-medium size financial institutions, due to less robust cyber security controls, budgets, or third-party vendor vulnerabilities."
 
For more information on the topic and our Technology Solutions & Services, please contact us by mail technology@birger.technology.

BIRGER.