Malware has been a big threat to computers and there have been a lot of problems caused by this type of malicious software. As if that was not enough, a forensics and security threat firm has announced a threat that malware can be used to target ATMs. Group-IB, the firm that announced these findings, said that malware can be used to collect data from the ATMs or swiping machines, and hack into the bank accounts. According to the study, the malware stores the data and sends it to the hacker who planted the malware whenever a network connection is available for transmission.
A Few Researchers Disagree
While Group-IB discussed their findings, the Director of Research at the University of Alabama, Gary Warner, said that malware cannot be used in the way Group-IB is announcing. He said that ATM networks are secured at multiple levels and something as simple as malware cannot get through the layers of encryption and firewalls. Typically, malware tries to exploit the weaknesses in the security that protects a system.
Bank Networks Vulnerable from Inside
Warner added that banks don’t have to worry about the attacks from the outside. He said that banks should worry more about someone from the inside planting malicious software into the bank networks as that is where the vulnerability is at its highest. He said that an auto load malware can be inserted as easily as plugging in a USB drive into the computer.The jury is still out on whether malware can affect banks from the outside or not, but the question is how severe the repercussions will be in case malware does attack a bank network.
[via Bank Info Security]