Cybercriminals Repurposing ATM EMV Malware

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Credit Card Malware Will Make You Sick
mikeechols.com/credit-card-malware-will-make-you-s
ick Michael Echols
Cybercriminals Repurposing ATM EMV Malware Using
credit and debit cards is convenient for most
everyone. The plastic currency takes away the
need to carry large sums of cash. This probably
the main reason paying by card has become the
preferred method of payment for many people. It
is as simple as swiping a card or inserting your
chip. The transaction is typically secure, and
the credit card company shares some of the
liability. However, as cyber-attacks become more
sophisticated, entering a PIN number or using a
chip may no longer suffice in protecting digital
assets. In fact, chips may unknowingly be the
root cause of spreading malware across multiple
point of sales (POS) systems. According to Booz
Allen Hamiltons 2019 Cyber Threat Outlook
report, hackers have begun installing
command-and-control malware on infected EMV
device readers. What does this mean? Simply put,
using your cards at random ATMs is not advised.
Cybersecurity begins with using trusted
ATMs. How Does It Work? EMV stands for Europay,
MasterCard and Visa, a global standard for
inter-operation of integrated circuit cards and
IC card capable point of sale terminals and
automated teller machines, for authenticating
credit and debit card transactions. Chip
technology was created to add an extra layer of
fraud protection during credit card
transactions, but criminals have found a way to
exploit it. Hackers are planting command-
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and-control malware in ATM EMVs to compromise
credit card information without drawing anyones
attention. The malware bypasses the chips
security measures and as a result discloses
private data, which allows hackers to
successfully rob thousands of people without
their knowledge. In addition, cybercriminals are
using similar botnets to contaminate credit card
chips with malware that will spread from one POS
system to the next at the swipe of a card. This
gives them direct access to large databases
filled hundreds of thousands of card numbers,
sales transactions, and customer information.
With this data in hand, hackers can disrupt
security networks and profit of sales. And with
little to no effort required on their end,
criminals can sit back and wait as their victims
unknowingly infect multiple computer systems.
Infecting the ATM EMVs serves a dual purpose.
Its like killing two birds with one stone, and
from a hackers perspective, thats
genius. Protecting Yourself EMV cards are
primarily designed to prevent fraudulent
transactions that take place when someone
physically swipes a counterfeit card at a payment
terminal. And chip card technology works. In
countries that have adopted EMV as the standard,
certain types of credit card fraud have
dramatically declined. The bad news is that its
rather difficult to tell whether an ATM has been
infected with malware before you insert your
card. The good news is that you dont have to use
any random ATMs, unless youre stuck in the
middle of nowhere, but even then, it would be
wise to have some cash on you. Trusted bank ATMs
are always the way to go. Just because you are
in a brand name hotel for instance, does not mean
the ATM owner is a trusted banking source. This
is especially true when you are on that great
vacation in the Caribbean or the far east. As of
right now, theres not much you can do once your
card has been infected with a form of malware.
Aside from shredding it, you should immediately
notify your bank if any suspicious activity is
reported. Business owners are advised to
implement monitoring systems that allow them to
see who, if anyone, is accessing their POS system
after hours of operation. By doing this, any
suspicious behavior can be detected and stopped
before it has the potential to get out of
hand. Chip Technology Repurposing ATM EMVs is
just one example of how cybercriminals exploit
technology that is meant to safeguard our
digital assets. Unfortunately, there are
countless other ways that are available to them,
as well. As cyber espionage continues to grow,
people around the world stand to lose more every
day. Perhaps chip technology experts must turn
back to the drawing board to create a more
secure firewall system to fight against
increasingly sophisticated malware attacks. In
addition, banks have to do a better job of
warning their customers. Suspiciously, they
provide theft information related to criminal
tactics, but banks are hesitant to let people
know there is a chink in the bank provided chip.
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