The folks over at MSNBC.com managed to get their hands on a US Secret Service memo that outlines a security problem with ATM machines. The report that was the subject of research by Algorithmic Research (ARX) in a paper (.pdf) was released a couple weeks ago. This outlined flaws in PIN security.
Using the methods outlined by the researchers, a hacker could siphon off thousands of PIN codes and compromise hundreds of banks, said Odelia Moshe Ostrovsky, the report’s principal author. Criminals could then print phony debit cards and simultaneously withdraw vast amounts of cash using ATMs around the world, she said.
For the full report please follow the link.
[tags]ATM, Banking Security, PIN, Algorithmic Research, ATM Unsafe[/tags]