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By Associated Press
January 30, 2018
Prasit photo—Getty Images

(WASHINGTON) The Secret Service is warning financial institutions about a type of cyberattack known as jackpotting.

Secret Service officials say the crime involves installing malicious software or hardware at ATMs that force the machines to release large quantities of cash on demand.

They say criminals have been able to find vulnerabilities in financial institutions that operate ATMs, typically stand-alone machines located in pharmacies, big-box retailers and drive-thrus.

The Secret Service says the criminals range from individual actors to international organized crime syndicates.

The Secret Service says authorities have recently obtained credible information about planned jackpotting attacks in the U.S. and have alerted law enforcement and financial institutions.

Advertiser Disclosure

The purpose of this disclosure is to explain how we make money without charging you for our content.

Our mission is to help people at any stage of life make smart financial decisions through research, reporting, reviews, recommendations, and tools.

Earning your trust is essential to our success, and we believe transparency is critical to creating that trust. To that end, you should know that many or all of the companies featured here are partners who advertise with us.

Our content is free because our partners pay us a referral fee if you click on links or call any of the phone numbers on our site. If you choose to interact with the content on our site, we will likely receive compensation. If you don't, we will not be compensated. Ultimately the choice is yours.

Opinions are our own and our editors and staff writers are instructed to maintain editorial integrity, but compensation along with in-depth research will determine where, how, and in what order they appear on the page.

To find out more about our editorial process and how we make money, click here.

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