Are Your Older ATMs Under Attack?Thieves will find any way they can to take money from unsuspecting victims – even if the victim is a piece of equipment. Many financial institutions provide convenience ATMs in remote locations so that their customers always have access to their funds when needed. Unfortunately, these ATMs are also some of the last to be upgraded from older models and can be subject to theft more frequently due to limited security.

In a new wave of unique ATM attacks overseas, hackers have discovered that older-model ATMs are easy targets with the right kind of malware and a simple setup. Drilling a small hole near the ATM keypad and attaching a wire between the ATM and a portable computer, hackers can easily override an ATM system with malware and direct it to dispense cash quickly for an easy theft.

Unfortunately, these attacks have begun to make their way into the United States, and the U.S. Secret Service advises financial institutions to take precautions to protect their remote ATMs and older units that are still in service. One important thing financial institutions can do is add two-factor authentication for physical entry into an ATM, and it is also recommended that additional security features, such as cameras, are installed at the ATM terminal. Updates to the ATM computer are also suggested so that the ATM will not read a foreign malware code that overrides the system.

It may also be important to upgrade your older-model ATMs so that your customers have a safe place to complete their banking business. At Ken Smith Inc., we offer the latest in automated teller machine technology and can recommend the security solutions that will work best for your financial institution.

There is nothing more effective than planning ahead and ensuring that your remote and older-model ATMs have the security they need. Contact your KSI sales representative or send us an email at info@kensmithinc.com.  We’re ready to help.