Hackers crack cash machine PIN codes to steal millions

Millions of bank customers face a new threat to their money after it emerged yesterday that hackers had cracked PIN codes used in cash machines.

Citibank machines in 7-Eleven convenience stores across America were the target of the biggest and most effective remote PIN code theft scam in US banking history between last autumn and this spring when at least $2 million (£1 million) was stolen.

TraceSecurity, a leading provider of SaaS security compliance and risk management solutions, disclosed today that the case of Citibank customers whose funds were hacked via the connection between ATMs and third parties processing their PIN codes, are just the tip of the iceberg when it comes to the overall security and compliance of the networks that process ATM transactions. Over the past five years, TraceSecurity personnel have uncovered thousands of un-patched ATM processing servers while performing routine security compliance inspections. TraceSecurity is responsible for performing annual audits and inspections for firms in the financial services space to ensure they are complying with industry and government regulations that help protect consumers' sensitive data as well as the funds in their accounts.