Home SECURITY European banks lose hundreds of millions of euros due to ATM hacking

European banks lose hundreds of millions of euros due to ATM hacking

0
European banks lose hundreds of millions of euros due to ATM hacking

[ad_1]

European banks lose hundreds of millions of euros due to ATM hacking

Most of the crimes are skimming and physical destruction of ATMs.

European Association for Secure Transactions (EAST) informs that in 2022, European banks lost €211 million due to criminal gangs, and the vast majority of losses were due to skimming devices installed in ATMs across Europe.

EAST, an industry group for banks and ATM vendors, also said losses due to skimming-devices at ATMs amounted to only €140,000. This is the lowest figure since EAST began tracking such statistics – the number of such attacks decreased by 40%.

Skimming attacks also include the so-called black box attack (black box attack). In black box attacks, an attacker detaches the outer casing of the ATM to gain access to its ports, or cuts a hole in the casing for direct access to internal wiring or other hidden connectors. Using access point data, an attacker connects a black box device (usually a laptop or Raspberry Pi board) to the ATM’s internal components, which are used to send commands and steal funds.

EAST emphasizes that most of these attacks have recently been unsuccessful – the total losses associated with such incidents amounted to only about €136,000.



The statistics compiled East

Clearly, card skimming is a much more important issue. According to EAST, skimming attacks caused €167 million in losses.

Therefore, people should always pay attention to skimmers and conduct a quick visual or physical inspection of an ATM before using it. It is especially recommended to take a closer look at the card reader.



Skimmer mounted on a card reader

EAST is also concerned about physical attacks on ATMs, especially the increase in theft by blowing up ATMs. The number of kidnappings with the help of explosions and the simple destruction of ATMs increased by 16% and 8%, respectively. Although measures have already been taken to reduce the risk of such attacks, each attack causes significant damage to equipment and buildings, and can pose a threat to people’s lives.

[ad_2]

Source link

www.securitylab.ru

LEAVE A REPLY

Please enter your comment!
Please enter your name here