Emerging Risk Trends- ATM Jackpotting

The first reported attack of ATM jackpotting was in 2013 in Mexico. The malware, called Ploutus, was identified as one of the most advanced ATM malware families in recent years.

One of the reasons the attacks took longer to spread to the Caribbean is because it may have been easier to get away with physically stealing ATMs and bribing individuals in Latin America than in the Caribbean.

This particular type of cyber-crime has been seen for years in Europe as well as in Asia. But it turns out one of the first instances of ATM jackpotting was not actually a crime. Hacker, Barnaby Jack demonstrated how ATM vulnerabilities could be exploited in an effort to raise awareness about jackpotting.

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The Caribbean Association of Banks, Inc. is the representative body and recognized voice for banks and other financial institutions in the Caribbean. We seek to influence policies and legislation which impact the sector by advocating on our members’ behalf and participating in the global network of similar institutions.

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