SAN JOSE, Calif. - Hackers broke into Citibank's network of ATMs inside 7-Eleven stores and stole customers' PIN codes, according to recent court filings that revealed a disturbing security hole in the most sensitive part of a banking record.
The scam netted the alleged identity thieves millions of dollars. But more importantly for consumers, it indicates criminals were able to access PINs — the numeric passwords that theoretically are among the most closely guarded elements of banking transactions — by attacking the back-end computers responsible for approving the cash withdrawals. The case against three people in U.S. District Court for the Southern District of New York highlights a significant problem.
Full Story: Citibank ATM breach reveals PIN security problems (AP)
The scam netted the alleged identity thieves millions of dollars. But more importantly for consumers, it indicates criminals were able to access PINs — the numeric passwords that theoretically are among the most closely guarded elements of banking transactions — by attacking the back-end computers responsible for approving the cash withdrawals. The case against three people in U.S. District Court for the Southern District of New York highlights a significant problem.
Full Story: Citibank ATM breach reveals PIN security problems (AP)
