Feeds

Massive ATM fraud triggers Gulf banking jitters

Cash machine chaos

Securing Web Applications Made Simple and Scalable

Banks across the United Arab Emirates are fighting to restore confidence in its banking system after hackers used counterfeit cards to withdraw funds from cash machines.

It's unclear how many customer accounts have hit by the attack much less how much money has been lost over the last three days, when the issue came to the fore. Local banks including Citibank, HSBC, Lloyds TSB, National Bank of Abu Dhabi and Emirates NBD have all issue statements, The Times reports.

The fact so many local bank are involved show that the problem is widespread. Fraudulent withdrawals both inside and outside the UAE have been recorded, Reuters adds.

A large number of banks have taken the highly unusual step of advising customers to change their PINs as a precaution. They are issuing text message alerts to customers on the issue while emphasizing that anti-fraud systems have the problem under control. Customers have been assured that they will be reimbursed for any losses.

Some banks have frozen the accounts of customers who have failed to change their PINs, causing chaos, UAE paper The National reports. Dubai Bank temporarily suspended international use of its ATM machines. It says only 42 customers were affected, all of whom have already been re-imbursed.

A statement from the National Bank of Abu Dhabi, which seems typical of those issued by the banks, can be found here.

Preliminary investigation suggest that hackers may have got their hands on card details and PINs after rigging cash machines with card skimmers. Other reports raise the dark spectre that bank's internal systems have been compromised. We'll know soon enough who is right.

First hand accounts from customers hit by the fraud are flooding into The Gulf Daily News. ®

Mobile application security vulnerability report

More from The Register

next story
HIDDEN packet sniffer spy tech in MILLIONS of iPhones, iPads – expert
Don't panic though – Apple's backdoor is not wide open to all, guru tells us
LibreSSL RNG bug fix: What's all the forking fuss about, ask devs
Blow to bit-spitter 'tis but a flesh wound, claim team
Black Hat anti-Tor talk smashed by lawyers' wrecking ball
Unmasking hidden users is too hot for Carnegie-Mellon
NEW, SINISTER web tracking tech fingerprints your computer by making it draw
Have you been on YouPorn lately, perhaps? White House website?
Manic malware Mayhem spreads through Linux, FreeBSD web servers
And how Google could cripple infection rate in a second
NUDE SNAPS AGENCY: NSA bods love 'showing off your saucy selfies'
Swapping other people's sexts is a fringe benefit, says Snowden
Own a Cisco modem or wireless gateway? It might be owned by someone else, too
Remote code exec in HTTP server hands kit to bad guys
prev story

Whitepapers

Reducing security risks from open source software
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Application security programs and practises
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Consolidation: the foundation for IT and business transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.