News & Analysis as of

Cyber Attacks ATMs

Amundsen Davis LLC

Don’t Gamble With Your Cybersecurity and Incident Response Plan: Lessons Learned from the Las Vegas Ransomware Attacks

Amundsen Davis LLC on

Typically, we beat the drum of the need to prepare for a data incident—anything from a full-blown ransomware attack to an employee accidently sharing data with the wrong person—by having your Incident Response Plan developed...more

Mitchell, Williams, Selig, Gates & Woodyard,...

FBI Warns of Impending Multimillion Dollar Global ATM Cashout, $13.5 Million Taken Already

According to a confidential FBI alert reported upon by Krebs on Security last Friday, the FBI issued an alert to banks concerning what is called an Unlimited ATM Cashout, attacks of which are expected in the near future....more

Robinson+Cole Data Privacy + Security Insider

FBI Issues Private Warning to Banks about Unlimited ATM Cashouts

On August 10, 2018, the Federal Bureau of Investigation (FBI) issued a private warning to banks warning them that cybercriminals are planning to “conduct a global Automated Teller Machine (ATM) cash-out scheme in the coming...more

Robinson+Cole Data Privacy + Security Insider

Virginia Bank Hacked Twice with Phishing Schemes Losing $2.4 Million

In a lawsuit against its insurance company requesting reimbursement for close to $2.4 million from two different hacking incidents, National Bank of Blacksburg detailed the intrusions, which are instructive of a sophisticated...more

Foley & Lardner LLP

Are ATMs safe? Probably not since Black Box ATM attacks are mounting which is costing banks millions!

Foley & Lardner LLP on

Bankinfosecurity.com report that “Fraudsters are now gingerly testing the waters in central and Western Europe with attacks that drain cash machines of their funds, according to a trade group that studies criminal activity...more

Robinson+Cole Data Privacy + Security Insider

ATM vulnerability – Banks beware!

It is said that a chain is only as strong as its weakest link. Often the same is said for an organization’s data privacy & security defensives. Could it be that the ubiquitous ATM machine is the weak link to the banking...more

Orrick, Herrington & Sutcliffe LLP

New Guidance for Financial Institution Directors and Officers In Cybersecurity Preparedness

Earlier this summer, the Federal Financial Institutions Examination Council (FFIEC) released its highly anticipated Cybersecurity Assessment Tool (Assessment), which is designed to assist financial institutions in identifying...more

Katten Muchin Rosenman LLP

Agencies Issue Denial of Service Guidance and Guidance on ATMs

On April 3, the members of the Federal Financial Institutions Examination Council (FFIEC), including the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union...more

Goodwin

FFIEC Issues Joint Statements on DDoS Cyber-Attacks and Cyber-Attacks on ATM and Card Authorization Systems

Goodwin on

On April 2, 2014 the members of the Federal Financial Institutions Examination Council (“FFIEC”) issued two joint statements: the first joint statement regards distributed denial-of-service (“DDoS”) attacks, and the second...more

Troutman Pepper

$45 Million Cyber-Attack Is Object Lesson From Verizon Study Showing No Business Is Safe, But Financial Institutions Bear Big Data...

Troutman Pepper on

Newspapers around the world recently reported that a sophisticated and well-coordinated cyber-attack resulted in the theft of $45 million from thousands of ATMs worldwide....more

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