Warning about a cyberattack known as jackpotting

Involves malicious software on ATM's
Warning about a cyberattack known as jackpotting
Posted at 2:12 PM, Jan 29, 2018
and last updated 2018-01-30 09:17:03-05

WASHINGTON (AP) -- The Secret Service is warning financial institutions about a type of cyberattack known as jackpotting.  

Secret Service officials say the crime involves installing malicious software or hardware at ATMs that force the machines to release large quantities of cash on demand.

They say criminals have been able to find vulnerabilities in financial institutions that operate ATMs, typically stand-alone machines located in pharmacies, big-box retailers and drive-thrus.

The Secret Service says the criminals range from individual actors to international organized crime syndicates.

The Secret Service says authorities have recently obtained credible information about planned jackpotting attacks in the U.S. and have alerted law enforcement and financial institutions.