ATM fraud a financial scams that take place through ATMs, in which criminals obtain your card information or account information without authorization in order to steal cash.
An ATM can be forced to dispense cash on command by hackers who have unauthorized access to its internal systems, a cyber crime known as jackpotting.
All of the money in the ATM could be taken by the hackers if they are successful.The primary targets are standalone ATMs.Since jackpotting requires a physical connection to the machine, cyber criminals use various tactics to gain unobtrusive access to the ATM.
When it comes to malware-based ATM jackpotting,the malware is used by the cyber criminals on a USB device. The compromised USB device is connected to the USB terminal of the ATM. Once infected, the software compels the computer to dispense cash so that the cyber criminals can take it. Customers can still use the malware-infected ATM, and the withdrawals don’t appear in any bank account, making this attack difficult to identify.Cyber criminals also make sure that their gang members are not captured by closed-circuit television (CCTV) cameras in order to remain undetected.
Black box attacks involve the disconnection of the ATM dispenser from the ATM PC.Black boxes which imitate the internal computer of the ATM, are used by cyber criminals.The cash dispenser receives a direct command from the blackbox, skipping the ATM’s operating system.
