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

  • New Report Reveals Top Trends Transforming Access Controller Technology

    Mercury Security, a provider in access control hardware and open platform solutions, has published its Trends in Access Controllers Report, based on a survey of over 450 security professionals across North America and Europe. The findings highlight the controller’s vital role in a physical access control system (PACS), where the device not only enforces access policies but also connects with readers to verify user credentials—ranging from ID badges to biometrics and mobile identities. With 72% of respondents identifying the controller as a critical or important factor in PACS design, the report underscores how the choice of controller platform has become a strategic decision for today’s security leaders. Read Now

  • Overwhelming Majority of CISOs Anticipate Surge in Cyber Attacks Over the Next Three Years

    An overwhelming 98% of chief information security officers (CISOs) expect a surge in cyber attacks over the next three years as organizations face an increasingly complex and artificial intelligence (AI)-driven digital threat landscape. This is according to new research conducted among 300 CISOs, chief information officers (CIOs), and senior IT professionals by CSC1, the leading provider of enterprise-class domain and domain name system (DNS) security. Read Now

  • ASIS International Introduces New ANSI-Approved Investigations Standard

    • Guard Services

  • Cloud Security Alliance Brings AI-Assisted Auditing to Cloud Computing

    The Cloud Security Alliance (CSA), the world’s leading organization dedicated to defining standards, certifications, and best practices to help ensure a secure cloud computing environment, today introduced an innovative addition to its suite of Security, Trust, Assurance and Risk (STAR) Registry assessments with the launch of Valid-AI-ted, an AI-powered, automated validation system. The new tool provides an automated quality check of assurance information of STAR Level 1 self-assessments using state-of-the-art LLM technology. Read Now

  • Report: Nearly 1 in 5 Healthcare Leaders Say Cyberattacks Have Impacted Patient Care

    Omega Systems, a provider of managed IT and security services, today released new research that reveals the growing impact of cybersecurity challenges on leading healthcare organizations and patient safety. According to the 2025 Healthcare IT Landscape Report, 19% of healthcare leaders say a cyberattack has already disrupted patient care, and more than half (52%) believe a fatal cyber-related incident is inevitable within the next five years. Read Now

Most   Popular

New Products

  • Compact IP Video Intercom

    Viking’s X-205 Series of intercoms provide HD IP video and two-way voice communication - all wrapped up in an attractive compact chassis.

  • EasyGate SPT and SPD

    EasyGate SPT SPD

    Security solutions do not have to be ordinary, let alone unattractive. Having renewed their best-selling speed gates, Cominfo has once again demonstrated their Art of Security philosophy in practice — and confirmed their position as an industry-leading manufacturers of premium speed gates and turnstiles.

  • FEP GameChanger

    FEP GameChanger

    Paige Datacom Solutions Introduces Important and Innovative Cabling Products GameChanger Cable, a proven and patented solution that significantly exceeds the reach of traditional category cable will now have a FEP/FEP construction.