Sophisticated cash machine hack allows gangs to withdraw wads of cash

A sophisticated method of hacking ATMs has allowed criminal gangs to withdraw vast sums of money, it has been discovered.

The international crime agency Interpol has issued a warning to countries across Europe, Latin America and Asia, which are known to have been targeted, the BBC reports.

The computer hack, can make cash machines dispense up to 40 banknotes at once, without the need for a debit or credit card.

The hack was discovered by internet security firm Kaspersky Labs. The hack requires the criminal to gain access to the inner working of the ATM in order to install malware via CD, then a code is entered on the ATM keypad, followed by a second code randomly generated by a remote algorithm. The gangs retain control of the second code generation, to ensure they can control access to the money.

Vicente Diaz, principal security researcher at Kaspersky, said: “Over the last few years, we have observed a major upswing in ATM attacks using skimming devices and malicious software.

“Now we are seeing the natural evolution of this threat with cybercriminals moving up the chain and targeting financial institutions directly.”

The research was commissioned by a “financial institution”, Kaspersky said, but did not reveal which one.

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