Cardless ATM is now using various financial institutions to take users cash without any form of physical cards but only using their mobile phone.
Cybercriminals abusing the cashless ATM future using an innovative phishing attack to steal the bank credentials by adding the new number to the customer’s account
Using a new number added device, attacker steals the cash amount from the Cardless ATM machines.
Likewise another incident in January 2017, KrebsOnSecurity told the story of a California woman who saw nearly $3,000 drained from her account via a cardless ATM operated by Chase Bank.
“In that incident, the thieves didn’t even need to know her ATM PIN; the thieves were able to use a phone number and mobile device they controlled and associate it with her Chase account simply by supplying her username and password”
A Real-Time Stealing Incidents From Cardless ATM
A Customer from Ohio-based financial institution Fifth Third Bank reported In May 2018 that he has received a text message on their phone that claimed from the bank.
The text message warning that their account has been locked and it contains a link which helps the unlock the account when user follow it
Once the user clicked the link then it will be redirected into a Web site that mimics the legitimate Fifth Third site which is a clear phishing page.
The site leads the visitor to give away their sensitive information including usernames, passwords, one-time passcodes and PIN numbers in order to unlock their account.
According to Kerb on security, scam netted credentials for approximately 125 Fifth Third customers — most of them in or around the Cincinnati area. The crooks then used the phished data to withdraw $68,000 from 17 ATMs in Illinois, Michigan, and Ohio in less than two weeks using Fifth Third’s cardless ATM function.
Cybercriminals continuously compromise user via phishing scam and withdrawals at cardless ATMs until the account balance goes zero.
Also, kerbs said, “cardless ATMs were offered mainly by the big banks, and then only at some of their ATMs. Now, many smaller regional and local banks have upgraded their cash machines to enable the new technology.”
Based on the Mastercard says its polling (PDF) suggests that 78 percent of consumers would rather use a cardless ATM solution than carry a physical card but the fact is most of the peoples are not even once heard about cardless ATM.