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ATM Security – Learn More About The Latest Attacks And Fixes In 2020

In a world that’s been impacted by Coronavirus and high unemployment, more cities around the world are seeing an increase in ATM attacks.

Thanks to recent data from ZDNet, we know that ATM attacks are rapidly becoming more sophisticated in 2020 and attackers are now turning to deposit forgery attacks to steal money from ATM’s.




What Are Deposit Forgery Attacks?

A deposit forgery attack occurs when a criminal can tamper with ATM software to change the amount or the value of the currency that is being deposited onto a payment card.

These attacks are very rare and have only been discovered to have occurred with Diebold Nixdorf, and NCR ATMs, over the last year.

Thankfully, both companies have developed patches to fight back against deposit forgery bugs since they both were found to be nearly identical on ATM’s that were utilizing Wincor Probase Software.

With the recent patches from NCR and Diebold, consumers can have confidence in the security of their financial transactions because the recent patches have also have gone a step further by hardening the communication that takes place between the host computer and cash deposit module. 

Deposit forgery and other similar attacks are very rare because ATM technology is far more advanced and software bugs are usually fixed immediately by cybersecurity firms.

How Operators Can Protect Their ATM Machines In 2020 And Beyond

The current unemployment rate around the world only means one thing, thieves are going to continue looking for ways to exploit ATMs including bugs like the recent deposit forgery bug that we’ve covered in this article.

ATM’s will always be an easy target for thieves because most ATM’s are not secure and left unmonitored during the day.

To avoid becoming the victim of thieves, here are several things that you can do to protect your ATMs: 

Physically secure your ATM – Make sure that your ATM is in a location that can be easily observed, and a camera can be placed near the ATM, to monitor traffic to the ATM over a 24-hour period.

Besides choosing the right location and ensuring that it’s monitored, your ATM should also be bolted down and in a hardened case. By investing in a hardened case, you will make it more difficult for thieves to gain access to your ATM’s case.

Protect your ATM digitally – Once you ensure that your ATM is physically secure, you should next take steps to protect it digitally by investing in cybersecurity to make sure that hackers can’t gain access to your Wi-Fi network and find a virtual way to get into your ATM.

After securing your WiFi network, you should also verify that the software on your ATM is up to date as well. 

Having the latest software installed on your ATM is important because finding an ATM with old software is like offering an open door to a hacker that they can use to exploit an automatic teller machine.

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