Europol’s EC3 and Trend Micro partner in bid to protect finance sector from ATM malware

Europol’s European Cyber Crime Centre (EC3) and Trend Micro, a global leader in cyber security solutions, have released a comprehensive joint report on the current state of ATM malware. ‘Cashing in on ATM Malware’ details both physical and network-based malware attacks on ATMs and highlights where the malware’s created.

ATM malware has evolved from requiring physical access to infect the machines to now successfully attacking network-based access using a bank’s corporate network. The joint report dissects recent attacks using bank networks to steal both money and credit card data from ATM machines, regardless of network segmentation. These attacks not only place at risk both personally identifiable information and large sums of money, but also put banks in violation of Payment Card Industry compliance standards.

“The joint industry-law enforcement report by Europol’s EC3 and Trend Micro shows that the malware being used has evolved significantly, while the scope and scale of attacks have grown proportionately,” said Steven Wilson, head of EC3. “While industry and law enforcement co-operation has developed strongly, ATM malware crime continues to thrive due to the major financial rewards available to the organised crime groups involved. Our report assesses the developing nature of the threat, and I very much hope that it serves as a blueprint for future industry and law enforcement co-operation.”

Hosted at Europol’s headquarters in The Hague, the European Cyber Crime Centre was launched in 2013 to co- ordinate cross-border law enforcement activities against cyber crime and to act as a centre of technical expertise on the matter.

Max Cheng, chief information officer for Trend Micro, stated: “Protecting against today’s cyber threats and meeting compliance standards require increased resources that are not always available for organisations, including those in the financial services industry. Public-private sector collaborations strengthen the global ongoing fight against cyber crime and help fill the resource gap for organisations. This report furthers Trend Micro’s commitment to helping law enforcement and private businesses mitigate future attacks and protect individuals.”

*Read the complete public report in PDF format

About the Author
Brian Sims BA (Hons) Hon FSyI, Editor, Risk UK (Pro-Activ Publications) Beginning his career in professional journalism at The Builder Group in March 1992, Brian was appointed Editor of Security Management Today in November 2000 having spent eight years in engineering journalism across two titles: Building Services Journal and Light & Lighting. In 2005, Brian received the BSIA Chairman’s Award for Promoting The Security Industry and, a year later, the Skills for Security Special Award for an Outstanding Contribution to the Security Business Sector. In 2008, Brian was The Security Institute’s nomination for the Association of Security Consultants’ highly prestigious Imbert Prize and, in 2013, was a nominated finalist for the Institute's George van Schalkwyk Award. An Honorary Fellow of The Security Institute, Brian serves as a Judge for the BSIA’s Security Personnel of the Year Awards and the Securitas Good Customer Award. Between 2008 and 2014, Brian pioneered the use of digital media across the security sector, including webinars and Audio Shows. Brian’s actively involved in 50-plus security groups on LinkedIn and hosts the popular Risk UK Twitter site. Brian is a frequent speaker on the conference circuit. He has organised and chaired conference programmes for both IFSEC International and ASIS International and has been published in the national media. Brian was appointed Editor of Risk UK at Pro-Activ Publications in July 2014 and as Editor of The Paper (Pro-Activ Publications' dedicated business newspaper for security professionals) in September 2015. Brian was appointed Editor of Risk Xtra at Pro-Activ Publications in May 2018.

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