FBI warns ATM ‘jackpotting’ scams caused $20M in losses last year

ATM “jackpotting” schemes are on the rise across the country, according to the Federal Bureau of Investigation.

Hackers are exploiting a mix of “physical and software vulnerabilities in ATMs” to get them to spit out cash without the need for an actual customer or transaction, the feds warned in a bulletin.

More than $20 million in cash was stolen last year alone, the FBI alert said. The feds have identified about 1,900 jackpotting incidents across the country since 2020.

The bad actors often use “widely available general keys” to open an ATM’s face and remove its hard drive. Next, they upload malware to override its security – or replace the hard drive entirely with a compromised device.

Jackpotting incidents led to $20M in losses last year.

“The malware interacts directly with the ATM hardware, bypassing any communications or security of the original ATM software,” the Thursday bulletin stated.

Jackpotting attacks result in losses for banks rather than customers, since they don’t target specific accounts or exploit PIN numbers.

The FBI urged the public to look for signs of a breach, since as evidence that a foreign USB device was plugged into the ATM, and report any suspicious activity to the authorities.