As digital hackers are becoming more sophisticated nowadays, security experts warn that a new strain of malware is attacking automated teller machines (ATMs) worldwide and these may even evolve into something which may be harder to detect and contain.
According to security firm SpiderLabs, a sample of ATM malware from a banking company in Europe can potentially harvest a complete information of card users including their personal identification number.
In a statement, SpiderLabs Vice President Andrew Henwood said the ATM malware is the first digital threat of its kind with its sophisticated way of retrieving data by recording the information found in the magnetic stripe at the back of the card.
“It seems the creators of these malwares are quite adept with how ATM works”, Henwood added.
Henwood said most ATM machines use security software but these lack sophistication to protect card users from more advanced malwares.
With billions of dollars at stake, Henwood urged banking institutions to strengthen its security features and develop new technologies to protect people various kinds of digital threats and cybercriminals.
Meanwhile, the security firm tested the malware on Microsoft Windows XP platform and confirmed that this can infect an ATM machine, however, it has no ability to transfer to other machines.
Despite its lack of networking ability, SpiderLabs said the malware may evolve into something which can infect other ATMs.
Henwood said that once this malware turns into a worm, which is a self-replicating computer program, it can spread and infect all the networks of ATMs.
According to a government data, cybercriminals are stealing billions of dollars every year in US alone.
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