Bangalore: Flaws have been detected in the automated teller machines (ATM's) design that has made these ARMs vulnerable to hackers and the cash dispensers may have to let go off their cash holdings.
The method for 'jackpotting' ATMs will be demonstrated by Barnaby Jack, head of research at Seattle-based, security firm IOActive Labs at the Black Hat security conference in Las Vegas to be held on July 28.
"ATMs are not as secure as we would like them to be. Barnaby has a number of different attacks that make all the money come out," said Jeff Moss, founder of the Black Hat conference and a member of President Obama's Homeland Security Advisory Council.
Diebold and NCR are the world's biggest ATM manufacturers. Moss feels that, inorder to raise awareness of the problems among ATM operators and keep them prepared to secure themselves from such problems, there is a need to go public and communication ports that are sometimes accessible from outside an ATM is a potential route of attack.
"People are starting to realize that hardware products do have security vulnerabilities. Parking meters, ATMs, everything that has electronics in it can be broken. A lot of times a hardware product is just a computer in a different shell," said Joe Grand, a hardware security expert.