Bank Servers Get FASTCash-ed by Cybercriminals

A new ATM scheme dubbed as “FASTCash” is reportedly making rounds, victimizing bank servers and its customers. This new scheme was believed to be used by North Korean APT hacking group Hidden Cobra, who were also previously connected with the WannaCry ransomware menace that shut down hospitals and businesses worldwide just last year.

ATM users are put in peril over the FASTCash scheme

In FASTCash hacking, cyber criminals remotely compromise payment to switch application servers within the banks they are targeting in order to go through with fraudulent transactions. Hidden Cobra attackers have managed to successfully install a malware at switch application servers, which then intercepts transaction requests associated with the cyber criminal’s payment accounts, which give out seemingly legitimate affirmative responses without the necessity for any validation from core banking systems, which then makes the ATMs dispense huge amounts of cash.

However, this type of tactic is not exactly new. FASTCash tactics have been used to target banks in Asia and Africa back in 2016, but at that time, there have been no confirmation in the US Government’s side that American banks have been affected by such alarming incidents until recently. Hidden Cobra have managed to steal tens of millions of dollars through this tactic, and at one point, have had simultaneously withdrawn millions of dollars from ATMs located in 30 different countries.

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