Browse Definitions :
Definition

ATM jackpotting

ATM jackpotting is the exploitation of physical and software vulnerabilities in automated banking machines that result in the machines dispensing cash.

With physical access to a machine, ATM jackpotting enables the theft of the machine’s cash reserves, which are not tied to the balance of any one bank account. Thieves who are successful and remain undetected can walk away with all of the machine’s cash.

The culprits use a portable computer to physically connect to the ATM along and use malware to target the machine’s cash dispenser. In this bold public approach, an attacker will often use deception and weaker targets to limit risk, like dressing as service personnel to avoid scrutiny. Stand-alone ATMs in retail and service outlets are more likely targets, away from a bank’s tighter monitoring and security. Older machines, which may not be fully up to date, are also common targets. ATM owners are encouraged to apply all available updates.

A rash of ATM jackpotting broke out in Latin America in 2017. Following that, attacks were seen in Europe, Asia and the United States in 2018. In the United States, the attacks resulted in the theft of over a million dollars. U.S. intelligence agencies warned about the threat, noting that guides outlining the process have been discovered on the dark web.

This was last updated in March 2018

Continue Reading About ATM jackpotting

SearchCompliance
  • ISO 31000 Risk Management

    The ISO 31000 Risk Management framework is an international standard that provides businesses with guidelines and principles for ...

  • pure risk

    Pure risk refers to risks that are beyond human control and result in a loss or no loss with no possibility of financial gain.

  • risk reporting

    Risk reporting is a method of identifying risks tied to or potentially impacting an organization's business processes.

SearchSecurity
  • Melissa virus

    Melissa was a type of email virus that initially become an issue in early 1999.

  • biometric payment

    Biometric payment is a point-of-sale (POS) technology that uses biometric authentication physical characteristics to identify the...

  • Twofish

    Twofish is a symmetric-key block cipher with a block size of 128 bits and variable-length key of size 128, 192 or 256 bits.

SearchHealthIT
SearchDisasterRecovery
  • What is risk mitigation?

    Risk mitigation is a strategy to prepare for and lessen the effects of threats faced by a business.

  • fault-tolerant

    Fault-tolerant technology is a capability of a computer system, electronic system or network to deliver uninterrupted service, ...

  • synchronous replication

    Synchronous replication is the process of copying data over a storage area network, local area network or wide area network so ...

SearchStorage
  • hard disk drive (HDD)

    A computer hard disk drive (HDD) is a non-volatile data storage device.

  • Remote Direct Memory Access (RDMA)

    Remote Direct Memory Access (RDMA) is a technology that enables two networked computers to exchange data in main memory without ...

  • storage (computer storage)

    Data storage is the collective methods and technologies that capture and retain digital information on electromagnetic, optical ...

Close