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‘FireEye’ US Based Cyber Security firm warns that attacks on ATM’s are set to Increase in India

Cyber Attacks on ATM’s in India are set to Increase: These days we can see people are making long queues at the ATM Kiosks to withdraw the cash after the sudden announcement of Demonetization.  Because of the sudden decision by PM Modi, people are facing problems in the transaction of money. A new report had arrived on Monday saying that the cyber attacks on ATM’s in India will rise in the region of Asia-Pacific (APAC) in 2017.

In the ‘2017 Security Landscape- Asia Pacific Edition’ reports, the US-based cyber security company Fire Eye claimed that “We have seen a big focus on ATM attacks in the APAC region, including in India. ATM’s in underdeveloped countries are particularly vulnerable as those countries still have old ATM software and are running Windows XP. This makes them the perfect target for an easier score.”

Alert: Cyber Security firm warns: Attacks on ATM’s in India are set to Increase

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Recently some of the Premier Indian banks blocked the debit cards that numbers ran into millions in one of the financial breaches. Some of the banks like The State Bank of India (SBI), HDFC Bank, ICICI Bank, AXIS Bank and Yes Bank have reported several of their customers debit cards are being a malware-related security breach in ATM network. The State Bank of India already blocked nearly 600,000 Debit cards.

Fire Eye continued that “With the continued rise in ransomware activities across the globe, religious organisations may unexpectedly become a target for cyber criminals in 2017, adding that much of the threat activity in the Asia-Pacific region is from China.”

Beware Of Cyber Attacks : Fire Eye Warns

 While the Fire Eye talking about the investments in security that the organisations will make in 2017, it predicts that the organisations will make the significant investments in the automation of 2017. “Organisations seeking to simplify everything in 2017 will set their sights on integration. A single pane of glass for all security needs will drastically improve the organisation’s security posture and show companies the true value of all the products they have acquired,” the reports said.

Fire Eye pointed out that “The combination of tools such as ransomware with more formalised illicit software-as-a-service (SaaS) franchised business models will become a more attractive and lucrative option for criminals with the proper skill sets and motivations.”

 It is said that recently, a hacker group called the Cobalt had targeted the ATM’s across Europe; they remotely attacked the ATM machines using malicious software that manipulated the systems which led the machines to automatically dispense huge amounts of cash from the ATM machines.

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