The press has reported several ATM hacks lately, and of course there have been numerous reports of hacks involving “in transit” monitoring of unencrypted data like PINs and CVV2 numbers.
Back in June, I reported a CitiBank hack of ATMs. Now Fox News is reporting another one involving CitiBank – this time on ATMs in California 7-Elevens.
Obviously, there’s a big hole in some ATM systems that we aren’t being told about and it can cause some real havoc on cardholders. Remember that ATMs work with debit cards and debit cards attach directly to your bank account. The bad guys can clean you out in 5 minutes or less and you’d better hope that the bank believes you when you tell them that you didn’t withdraw all that money.
When will the payment industry wake up?
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