Firstmark Credit Union Shuts Down ATMs After Jackpotting Attacks
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- Firstmark Credit Union Shuts Down ATMs After Jackpotting Attacks
San Antonio, TX – Firstmark Credit Union initiated a temporary shutdown of all its ATM locations across its twelve financial centers, effective 5:30 p.m. on Friday, March 14.This decision follows recent “ATM jackpotting” incidents, where criminals used malware to steal thousands of dollars. The ATMs will be offline untill 8:00 a.m. on Monday, March 17, as the credit union implements enhanced security measures to protect against future attacks.
The temporary shutdown was prompted by a series of “ATM jackpotting” attacks targeting Firstmark machines. These attacks involve criminals using malware to infiltrate ATMs and force them to dispense large sums of cash. Law enforcement is actively investigating these incidents.
Temporary ATM Shutdown and Revised hours
Firstmark Credit Union took immediate action to mitigate the risk of further attacks. The temporary shutdown, which began on March 14 and lasted through the weekend, allowed the credit union to bolster its defenses. The credit union announced revised ATM hours of operation starting Monday, March 17. All Firstmark ATMs will be active Monday through Friday from 8:00 a.m. to 5:30 p.m., and on Saturday from 9:00 a.m. to 1:00 p.m. The ATMs will be offline during all other hours until further notice.
“In the meantime, to protect ourselves against this targeted crime, and to give ourselves time to add additional layers of protection to our network of machines, we will be turning off all Firstmark ATMs located at all twelve (12) financial centers, effective today and over the weekend, beginning at 5:30 p.m. on Friday, March 14, and ending at 8:00 a.m. on Monday, March 17.”
Member Funds Remain Secure
Despite the ATM attacks, Firstmark Credit Union assures its members that their funds are safe. The credit union emphasized that personal identification details, debit card data, and account information have not been compromised in any way. This reassurance aims to alleviate concerns among members regarding the security of their accounts.
Firstmark Credit Union sought to reassure its members, stating:
“It is vital for our members to know that their account funds are safe and that our members’ personal identification information, debit card information, and account information has not in any way been compromised.”
Understanding ATM Jackpotting
The United States Department of Justice defines ATM jackpotting as “the exploitation of physical and software vulnerabilities in ATMs that result in the machines dispensing cash to unauthorized fraudsters.” These attacks typically involve gaining physical access to the ATM to install a foreign device that allows hackers to control the machine. Onc compromised, the ATM dispenses its cash reserves, untethered to any bank account.
According to a press release issued by the United States Department of Justice:
“ATM jackpotting is the exploitation of physical and software vulnerabilities in ATMs that result in the machines dispensing cash to unauthorized fraudsters. Typically, during ATM jackpotting events one or two people use a key to access the inside of an ATM to install a foreign device that allows a hacker to assume control of the ATM. After the ATM is compromised, groups of individuals arrive at the ATM to conduct transactions and the ATM dispenses its cash reserves, which are untethered to any bank account.”
Options for accessing Cash
During the ATM downtime,Firstmark Credit Union encouraged members to visit any of their locations during weekly hours of operation,Monday through Friday,from 9:00 a.m. to 5:30 p.m. several financial centers, including La Vernia, New Braunfels, Legacy, Culebra, Mission, Jefferson, Huebner, and O’Connor, offer Saturday hours from 9:00 a.m. to 1:00 p.m.
To further assist members, Firstmark Credit Union is reimbursing up to two foreign ATM usage fees per week. These refunds will be automatically reflected on members’ monthly statements. Members can also access cash from grocery stores, drug stores, and other retailers that offer cash-back options at the point of purchase.
Conclusion
Firstmark Credit Union’s proactive response to the ATM jackpotting incidents underscores its commitment to protecting its members and assets. While the temporary ATM shutdown may cause some inconvenience, the credit union emphasizes that these measures are necessary to safeguard against further losses and enhance the security of its network. Members are encouraged to utilize choice options for accessing cash and to contact Firstmark Credit Union with any questions or concerns.
ATM Jackpotting: Unmasking the Growing Threat to Financial Security
Did you know that sophisticated criminal networks are targeting ATMs with increasingly advanced techniques, causing significant financial losses and reputational damage for institutions? This isn’t just about stealing cash; it’s a complex cyber-physical attack that demands a multi-layered defense strategy. Let’s delve into the intricacies of ATM jackpotting with Dr. Evelyn Reed, a leading expert in cybersecurity and financial crime.
World Today News Senior Editor: dr. Reed, welcome. Firstmark Credit Union’s recent experience highlights the alarming reality of ATM jackpotting. Can you explain, in simple terms, what this type of attack entails and how criminals execute it?
Dr. Reed: Thank you for having me. ATM jackpotting is essentially a sophisticated heist that combines physical intrusion with cyber manipulation. Criminals don’t just steal cash; they exploit vulnerabilities in an ATM’s hardware and software to gain control over its cash dispensing mechanism. This often involves gaining physical access to the machine, usually by disabling security features or exploiting weak points in its physical design. Once inside, they deploy malicious hardware or software—sometimes both—to override the ATM’s normal operational protocols. This allows them to remotely command the machine to dispense its entire cash reserve,effectively creating an illicit “jackpot.” These attacks are rarely impromptu; they are meticulously planned and executed by organized criminal groups with specialized expertise.
World Today News Senior Editor: What are the most common vulnerabilities that these criminal organizations exploit during these attacks?
Dr. Reed: The vulnerabilities exploited in ATM jackpotting are multifaceted. Physical security weaknesses are frequently targeted. This includes vulnerable ATM casings, inadequate locking mechanisms, and poorly secured access points.Criminals often look for ATMs with minimal surveillance or in isolated locations. Simultaneously,outdated or poorly configured ATM software presents ripe opportunities for cyber exploitation. Weaknesses in the operating systems,lack of regular security updates,and inadequate encryption can allow malware injection and complete control over the system. Moreover, weak internal network security within the financial institution’s ATM network can allow for spread of the malware beyond the compromised ATM itself.These are all significant attack vectors that require multi-faceted defenses.
World Today News Senior Editor: Given the sophisticated nature of these attacks, what practical steps can financial institutions take to bolster their defenses against ATM jackpotting?
Dr. Reed: Combating ATM jackpotting necessitates a holistic approach that addresses both physical and cyber vulnerabilities. Here are key actions:
Strengthening Physical Security: This involves implementing robust physical protections, including reinforced ATM housings, advanced locking mechanisms with tamper-evident seals, and comprehensive surveillance systems—CCTV, motion sensors, and potentially even GPS tracking in high-risk situations. Regular safety inspections are critical to identify and remedy any compromised access points before they are exploited.
Enhancing Cybersecurity: Regular software updates and patching are paramount to closing software vulnerabilities. Robust anti-malware solutions, coupled with network segmentation, significantly reduce the risk of malware spreading to other ATMs. Regular penetration testing by cybersecurity experts identifies and rectifies exploitable vulnerabilities.Strong encryption of communication protocols between the ATMs and the core banking systems is an essential measure to protect communications on the network.
Improved Monitoring and Incident Response: Real-time monitoring of ATM activity for suspicious transactions and unusual patterns is crucial for early detection. A well-defined incident response plan is essential for minimizing financial losses and reputational damage in case of an attack. This plan should address both physical security breaches as well as virtual ones.
Collaboration and Details Sharing: Collaboration among financial institutions, law enforcement, and cybersecurity experts is critical for sharing information on emerging attack techniques and best practices for prevention. This collective defense approach enhances security and accelerates the response to new threats.
World Today News Senior Editor: Beyond these crucial steps, what additional deterrent measures can financial institutions employ?
Dr. Reed: Proactive measures are equally importent. This includes comprehensive staff training to recognize suspicious activity near ATMs,such as individuals lingering or attempting to tamper with machines. Implementing a robust reward system for information leading to the apprehension of ATM jackpotting perpetrators can serve as a strong deterrent. Establishing specialized ATM security units within financial institutions, consisting of experts in physical and cybersecurity, can create a proactive and highly capable defense strategy.
World Today news Senior Editor: what advice would you give to the average ATM user to minimize their personal risk?
Dr. Reed: While ATM jackpotting doesn’t directly target individuals, it’s important to be aware of your surroundings when using an ATM. Opt for well-lit, populated areas, and report any suspicious activity—individuals loitering near an ATM, tampering with the machine, or any unusual behavior around the atms—to the financial institution or local authorities instantly.
World Today News senior Editor: Dr. Reed,thank you for sharing your invaluable insights. Your expertise has illuminated the complexities of ATM jackpotting and the proactive steps necesary to mitigate this growing threat. We encourage our readers to share their thoughts and experiences in the comments below and share this vital information with your network.