Brazilian criminals tackle ATMs to steal payment card chips

By Prempal Singh 0 Comment May 23, 2017  about cybercrime, anti cybercrime, cyber, cyber crime in india, cyber crime law, cyber law, cyber security, cybercrime, cybercrime act, cybercrime division, cybercrime in phillipines, cybercrime in the phillipines, cybercrime law, cybercrime law in the phillipines, cybercrime pdf, cybercrime phillipines, cybercrime preventation, cybercrime preventation act, cybercrime virus, FBI, fbi cybercrime, phillipines cybercrime law, police cybercrime, types of cybercrime, what is cybercrime

In order to work around the security measures built into EMV credit cards, a Brazilian criminal gang has founded a skimmer-type device that steals the chip right out of the cards when it is placed into a compromised ATM.

The procedure is pretty simple, but requires a certain level of inattentiveness by the victim, according to a FlashPoint blog by Analyst Olivia Rowley and Senior Intelligence Analyst Ian W. Gray. The illegal first installs a skimmer-like device onto the ATMs card slot. Nevertheless, rather than reading information off the magnet strip like a typical skimmer, the device your punches out the chip, leaving a huge hole in the cards, which can them be inserted into an empty card for future use. The hackers also tackle up a camera at the ATM to enable them to record the person’s name and PIN.

The experts aren’t totally certain what happens to the chips after they are removed but believe they are more than likely stored in what they called a contribution that is installed by the criminals.

“The contribution has a fake display screen and card reader that is installed by the attackers. To recover the chips, the fraudsters would simply remove the contribution and acquire the chips, ” the researchers informed SC Media.

Another reason this scam is being successful is the general low-security awareness in Brazil and the victims are slow to act when they realize something has happened to their cards.

“In an interview with one of the victims, the victim declares their card from the ATM, but didn’t aware anyone until they received a text from the bank about unusual activity on their account, 20 minutes after the occurrence, ” Rowley and Grey said.

Source: www.scmagazine.com