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News

Cyber Secure Institute claims ATM equipment inherently vulnerable

Cyber Secure Institute : 27 March, 2009  (Technical Article)
Trojan attack on Diebold ATM prompts demands from Cyber Secure Institute that the banking industry use more inherently secure IT systems
Rob Housman, Executive Director of the Cyber Secure Institute, a research and advocacy firm has released this statement:

"Two recent breaches highlight the insecurity of the financial markets and banking systems that we all rely on.

"On March 18, 2009, a harmful cyber-attack was discovered that affected Diebold ATM machines. A Trojan had been implanted into the windows-based operating systems of the machines, and opened up users to a whole host of threats including unauthorized access to their private information such as their accounts as well as the threat of stolen PIN numbers and funds.

"There are also new reports that 'The Analyzer', who was arrested last year in Canada for stealing $1.5 million from Canadian banks, also allegedly hacked two US banks, a credit card and debit card firm, and a payment processor firm. The attacks have led to at least $10 million in losses to date.

"Attacks like these undermine the integrity of the US and international financial system—at a time when we can ill afford doubts about the security of investments and markets.

"What is most disturbing is that these types of attacks are now entirely preventable. There are now inherently secure cyber-technologies, such as those offered by Integrity Global Security, one of our member companies, which are certified as capable of withstanding these types of attacks.

"The financial sector needs to replace at risk, hack and patch technologies with inherently secure systems."
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