How Cyberthieves Stole $45 Million from ATMs and How You Can Protect Your ATM Card

How Cyberthieves Stole $45 Million from ATMs and How You Can Protect Your ATM Card

  • By Ginger Hill
  • May 16, 2013

How Cyberthieves Stole $45 Million from ATMs and How You Can Protect Your ATM Card

With a goofy, gangster-style grin across his face, Emir Yasser Yeje points to a stack of cash held by Elvis Rafael Rodriguez. (Which by-the-way, blows my mind that the thieves would take a picture, probably with their 'smart' phone, documenting that they were involved. Too bad they weren't 'smart'!)

Yeje and Rodriguez are two of the seven individuals arrested in the U.S. accused of operating a global network (supposedly in 27 countries), stealing an astonishing $45 million in mere hours from cash/ATM machines. Replacing black ski masks and guns with laptops and the Internet, the cyberthieves worked in unison to rob ATMs of their paper money.

Here's how it worked:
  1. Hackers breached the bank databases, eliminated withdrawal limits on pre-paid debit cards and created access codes.

  2. Others involved loaded the data onto any plastic card with a magnetic stripe (hotel room access cards, out dated credit cards, gift cards).

  3. A network of operatives fanned out, rapidly withdrawing money in multiple cities across the world.

  4. Each person would take a cut of the money, launder it and/or ship it to global ringleaders.

According to Brooklyn U.S. Attorney Loretta Lynch, it appears that the thieves plundered funds held by banks to back up prepaid credit cards. So, individuals and business accounts did not lose any of their funds.

With this event happening less than a week ago and with the security industry a bit shaken to say the least, how can you keep your magnetic-striped, ATM card(s) safe?

  1. Try to use ATMs at your local bank’s branch. According to the U.S. Department of Financial Services, “It may be easier for criminals to tamper with a machine that is in a non-bank location.”

  2. Use your body or hand to create a shield on the ATM keyboard when entering your PIN number. Small buttons can be installed on the surveillance cameras focused on ATMs that allow thieves to steal your pin number.

  3. Be sure to look out for people standing in your “personal space” while entering your PIN number. That person may be trying to memorize your PIN number.

  4. Check the ATM. Make sure the card slot does not have an attachment, there is no sticky residue on the machine and that the keypad isn’t resistant when pushing the buttons. These could all be signs that thieves are copying your card or have tampered with ATMs.

  5. Keep usage of the ATM to a minimum, so plan ahead of time. Approach the machine with card in hand, and do not open your wallet once you are near the machine.

  6. Do not count the distributed cash near the ATM. Instead, take all the cash, and put it directly into an envelope.

  7. Do not use ATMs after dark. Try to opt for day-only transactions. If you must use an ATM after dark, make sure to use one that is in a well lit area.

Sources:

http://blogs.wsj.com/indiarealtime/2013/05/13/atm-heist-how-to-protect-your-card/

http://news.yahoo.com/global-network-hackers-steal-45m-atms-072335721.html

About the Author

Ginger Hill is Group Social Media Manager.

Featured

  • It's Show Time

    I am one of those people that likes to see things get bigger and better. As advertised, ISC West is going to be bigger (more exhibitors) and better (more attendees). It’s show time in Las Vegas. Read Now

    • Industry Events
    • ISC West

  • SIA Releases New Report on Operational Security Technology

    The Security Industry Association (SIA) has released an impactful new resource – Operational Security Technology: Principles, Challenges and Achieving Mission-Critical Outcomes Leveraging OST. Read Now

  • Cyber Overconfidence Is Leaving Your Organization Vulnerable

    The increased sophistication of cyber threats pumped by the relentless use of AI and machine learning brings forth record-breaking statistics. Cyberattacks grew 44% YoY in 2024, with a weekly average of 1,673 cyberattacks per organization. While organizations up their security game to help thwart these attacks, a critical question remains: Can employees identify a threat when they come across one? A Confidence Gap survey reveals that 86% of employees feel confident in their ability to identify phishing attempts. But things are not as rosy as they appear; the more significant part of the report finds this confidence misplaced. Read Now

  • Mission 500 Debuts Refreshed Identity Ahead of Security 5K/2K at ISC West

    Mission 500, the security industry’s nonprofit charity dedicated to supporting children in need across the US, Canada, and Puerto Rico, has unveiled a refreshed brand identity ahead of ISC West. The charity’s new look includes a modernized logo with refined messaging to reinforce Mission 500’s nearly decade-long commitment to serving the needs of children and families in crisis. Read Now

    • Industry Events
Most   Popular

New Products

  • Hanwha QNO-7012R

    Hanwha QNO-7012R

    The Q Series cameras are equipped with an Open Platform chipset for easy and seamless integration with third-party systems and solutions, and analog video output (CVBS) support for easy camera positioning during installation. A suite of on-board intelligent video analytics covers tampering, directional/virtual line detection, defocus detection, enter/exit, and motion detection.

  • ResponderLink

    ResponderLink

    Shooter Detection Systems (SDS), an Alarm.com company and a global leader in gunshot detection solutions, has introduced ResponderLink, a groundbreaking new 911 notification service for gunshot events. ResponderLink completes the circle from detection to 911 notification to first responder awareness, giving law enforcement enhanced situational intelligence they urgently need to save lives. Integrating SDS’s proven gunshot detection system with Noonlight’s SendPolice platform, ResponderLink is the first solution to automatically deliver real-time gunshot detection data to 911 call centers and first responders. When shots are detected, the 911 dispatching center, also known as the Public Safety Answering Point or PSAP, is contacted based on the gunfire location, enabling faster initiation of life-saving emergency protocols.

  • QCS7230 System-on-Chip (SoC)

    QCS7230 System-on-Chip (SoC)

    The latest Qualcomm® Vision Intelligence Platform offers next-generation smart camera IoT solutions to improve safety and security across enterprises, cities and spaces. The Vision Intelligence Platform was expanded in March 2022 with the introduction of the QCS7230 System-on-Chip (SoC), which delivers superior artificial intelligence (AI) inferencing at the edge.