Criminals are getting better at hacking ATMs. Here’s how to disrupt them

One type of innovation never sleeps in banking: The tireless work of criminals and organizations to invent new ways of overcoming banking systems. Institutions now face many reinvented physical threats to their ATMs and a new form of ATM cyberthreat from ransomware.

Many attacks on ATMs don’t become news headlines, and that’s probably for the best. Beyond any funds stolen, the reputation risk can be far more damaging to relationships with account holders. Yet, staving off the onslaught of criminals who are constantly testing and refining with seemingly unlimited time and budgets can be challenging.

Up-to-date information on what bad actors are up to, how they are attacking ATMs, and what measures help prevent their success provides the best means for your institution to up its defenses. Here are the 2.0 physical threats for ATMs– and an introduction to new cyber threats – that your institution needs to know about this year and the best practices to mitigate risk for each.

 

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