Jackpotting attacks, which are hacks that make ATMs spew money, are becoming increasingly common around the world.
Hackers equipped with black market software are targeting cash machines with dated software and substandard security and walking away with millions over the course of a series of attacks, according to a collaborative investigation by Motherboard and German newsroom Bayerischer Rundfunk. Though law enforcement agencies are tightlipped about the trend, it’s a sign that banks may be surprisingly vulnerable to cybercrime.
Previous reports claimed that jackpotting attacks have decreased since some high-profile 2017 attacks in Germany, but the new investigation reveals that the opposite is true.
“Globally, our 2019 survey indicates that jackpotting attacks are increasing,” David Tente, of the ATM Industry Association, told Motherboard.
Other sources, granted anonymity by Motherboard, described the same trend: “There are attacks happening, but a lot of the time it’s not publicized,” said one.