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Thursday, November 30, 2006

The ATM system is under attack



There is an article at MSNBC NEWS that shows just how vulnerable the system that banks use to access ATM machines really is. Apparently, the organized crime network has found a way of hacking into the third party computers in the network and attempting to trick them into divulging customer's PIN numbers.

The banking industry acknowledges that there is a flaw in the system, but tends to downplay the threat. But they have always been slow to repond to changing environments and the threat is real. Any onewith access to the ATM network can use this method to print phoney debit cards and steal untold amounts of cash.
Any attack made using this method would seriously compromise the banking network and cause huge amounts of chaos not just in the U.S. but around the entire world. And , since it would like the bank's customers were withdrawing frome their own accounts, any complaint that money was stolen would be seen as crazy. The bank would not be able to tell the difference.


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