A just-issued report from President Obama's Commission on Enhancing National Cybersecurity outlines challenges the next administration should address. Observations from one of the panel's commissioners highlight the latest episode of the ISMG Security Report.
Local police are investigating ATM skimming attacks at four New York hospitals. Security experts warn that fraudsters will likely continue to target locations, including hospitals, where ATMs are not closely monitored and around-the-clock access to the terminals is available.
European banks have seen a new wave of ATM jackpotting attacks, where machines are commanded by malware to spit cash into the waiting hands of criminals, according to a new report. But why is this report being cautiously received?
India has just woken to a massive breach long anticipated by pragmatic observers in the industry. However, ironically, no responsibility can be pinned. Individual banks are all claiming innocence, and the regulator is MIA.
In light of the increase in ATM fraud in India, it's essential that banks more closely monitor the security efforts of third-party service providers they increasingly are relying on to help manage their networks, says Prakash Joshi, COO at Electronic Payment Systems
The compromise of details on more than 3.2 million debit cards in India should serve as a call to action for the banking industry to ramp up its security efforts, experts say. They share immediate and long-term recommendations to forestall similar incidents.
As U.S. ATM operators face MasterCard's Oct. 21 EMV liability shift deadline, a surge in explosive attacks against European ATMs is a reminder that anti-fraud features won't block all money machine crime.
Brazen ATM thefts from financial institutions in Taiwan and Thailand have sent a shiver through the global banking industry. An inside look at the malware used in the attacks reveals attackers' clever, incremental improvements.
Thai police say they have identified all of the suspects allegedly involved in recent "jackpotting" malware attacks against 21 ATMs, leading to the theft of 12 million baht ($350,000). The malware is a new strain called "Ripper," raising concerns for banks worldwide.
Russia, which some have blamed for attacks against the Democratic Party in the U.S., has offered a detailed description of coordinated cyberattacks against its scientific, public authority and military institutions. Is the announcement a tit-for-tat move after the charges of Russian involvement in U.S. hacks?
First the hackers came for our credit cards. Now they're taking control of our TVs. Witness the latest version of FLocker - for "frantic locker" - which is designed to lock Android devices, including smart TVs.
A Japanese ATM cash-out scheme that stole $19 million from South Africa's Standard Bank in less than three hours illustrates why devising better ways to mitigate the risks posed by such schemes must be a priority for financial institutions in markets - including the U.S. - that still rely on mag stripe debit cards.
By spring, banks and credit unions across the U.S. are expected to start rolling out "card-free" ATMs, offering transactions that experts say will eliminate fraud losses linked to skimming, and at the same time open new doors for mobile payments.