FFIEC WARNING to CUs: New Cyber Attacks on ATMs
The Federal Financial Institutions Examination Council (FFIEC) issued a warning last week to US banks and credit unions about new cyber attacks on ATMs.
What are these new cyber attacks on ATMs?
The U.S. Secret Service is calling them "unlimited operations" because they have the "unique ability to bypass ATMs' usual limits on withdraws."1 The hackers use stolen account information from debit, prepaid or ATM cards to install malware on a bank or credit union's network which allows them to steal funds from the financial institution.
How can I prevent these attacks?
The FFIEC recommends the following preventative actions:
- Ongoing Monitoring of Network Security: Btech offers many solutions to monitor your network including managed firewall services, network device monitoring, URL monitoring, Microsoft Exchange monitoring, and SYSLOG reporting services.
- Identify and Address Existing Security Risks: Services like patch management, quarterly vulnerability assessments, intrusion detection, and antivirus/ antispyware will keep your network security up-to-date.
- Limit Access Privileges Among Employees: The number one way hackers gain access to a company's network is through employees, like in the case with the Target data breach. Btech can advise you on the best practices for employee access privileges.
- Migrate away from Windows XP : As of April 8, ATMs will be even more vulnerable to cyber attacks as Microsoft has discontinued support for Windows XP, "the operating system 95% of ATMs rely on."1
Btech has been working with credit unions for over 25 years. Whether you have open items from a recent audit, or are looking for ways to improve your overall security, Btech is here to help.
Please call us today to discuss any needs that you may have or to learn more about Btech.