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Beware: Banks warned of ATM jackpotting racket

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Authorities warned banks and their respective clients to be wary of the a new ATM theft scheme that is being used by criminals abroad.

The new scheme is called “jackpotting” racket where a USB drive or CD is inserted into an ATM machine, enabling withdrawals even without using an ATM card. 

How does the “jackpotting” racket work? When the scammers run the program, a command is sent to the ATM to witdraw a number of bills directly.

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The malware may command that ATM to withdraw up to 40 bills at a time.

Although the new scheme is not yet reported in the Philippines, banks are still urged to secure their ATM  and install security features such as locks and keypad covers for possible vulnerability in the future.

With reports from ABS-CBN News. 

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