Thought Leadership
A new threat has emerged on the cybercrime scene that is specifically targeting ATMs in Europe and could therefore endanger the entire banking industry. The malware, known as “EU ATM Malware”, was recently offered for sale on a hacker forum.
The vendor claims that this malware is capable of compromising almost every ATM in Europe and around 60% of ATMs worldwide. Devices from leading manufacturers such as Diebold Nixdorf, Hyosung, Oki, Bank of America, NCR, GRG and Hitachi are affected. The attacker also claims that the malware can generate up to 30,000 US dollars per ATM.
The vendor’s business model is based on a subscription model with an initial fee and a share of the profits from successful “jackpotting” operations. Jackpotting involves the introduction of malicious software, often via a USB stick, into the computer of an ATM. This type of attack causes the ATM to dispense all of its cash through the regular dispensing mechanism.
Although the claims about the new malware have not yet been independently verified, its existence, if true, would be a significant threat to the global banking industry.
Malware targeting ATMs has already caused considerable damage in the past. Since 2017, a malware kit called “Cutlet Maker” in particular has made headlines. This also enabled less technically skilled criminals to withdraw millions. The new EU ATM malware could have a similarly devastating effect if it falls into the wrong hands.
