There are new cyber threats all the time and some cause a lot of damage to financial institutions, but now there is something called jack-potting. Although jack-potting has been around for a while it seems that hackers are stepping up their game. With jack-potting hackers can get an ATM to dispense about 40 bill per 23 seconds. The only relief is that in order to get the ATMs to do this they have to have physical access to the ATM’s computer system. These attacks were mostly happening in Europe and Mexico, but now it has reached the United States. They are dressing up as maintenance people for the ATM and installing some malicious software to be able to empty the ATM. So to most of us it looks like they are doing routine maintenance. Unless you have been aware of these attacks, you wouldn’t notice a thing.
It was said that it looks to be an organized crime and multiple groups of people initiating the attacks. So the next time you see maintenance working on a standalone ATM and they have been there a little too long report it just in case it could be Jack-potting. Should we as consumers be worried? The answer is NO! Consumers are safe on this one, it is the financial institutions that have to worry. Stay Safe.