Trend Micro and Europol Partner to Arm Financial Industry with ATM Malware Protection

Trend Micro Incorporated, the cyber security solutions, and Europol’s European Cyber crime Centre (EC3) released a comprehensive report on the current state of ATM Malware. “Cashing in on ATM Malware” details both physical and network-based malware attacks on ATMs, as well as highlights where the malware is created.

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

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

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

Nilesh Jain, Country Manager - (India and SAARC), Trend Micro said, “ATM Malware has increased with the rise of digital economy, and we have noticed that considerable efforts have been undertaken by banks, ATM vendors and security companies to create and deploy solutions to address these security gaps.  A well-designed security plan can go a long way towards ensuring that an ATM installation can become very difficult to exploit and victimize.”

In addition to the public report, a limited-release version is available to law enforcement authorities, financial institutions and the IT security industry. This private report provides greater detail for public and private organizations to harden ATM and network systems and prevent future attacks against financial institutions.