We’ve seen one too many ATM scams pop up in the news over the course of the past year, but this latest scam is especially disturbing because it involves a bank employee. In Charlette, North Carolina a member of the IT Staff at a Bank of America branch ended up installing malware onto the bank’s ATM machines. It has been discovered that he used the malware to make fraudulent withdrawals over the course of a seven-month period.
Many suspect that Rodney Reed Caverly, 37, used malware code that originated in Russia and the Ukraine. The code which was discovered last year, was used in 20+ ATMs overseas, is designed to capture pins and bank card magstripe data, and it also allows thieves to instruct the machine to eject whatever cash still inside of it.Read More →