While a majority of the world prefers plastic cards to wads of cash, there’s always going to be that desperate moment where you need to withdraw some dollars on the fly. The FBI has just issued a statement regarding a new ATM scheme hackers are plotting to abuse in the coming days, so WiseDime thought it would be best to not only inform you, but give you some tips on how to keep your accounts safe when making transactions.
First, let’s tackle the “ATM Cat-Out” scheme. This phrase was coined to describe how hackers are getting access to millions of dollars in mere hours thanks a breach in the system. The way this system works is the hackers directly target a single institution, remotely hack the database for employee information, duplicate and clone the cards to be able to pull out as much money as possible. Attacks like these usually occur on Mondays and are targeted towards companies closed for business on Sunday.
So how can you keep your account safe? Here’s a few quick tips: Third-party ATMs are way more susceptible to hacks than the ones secured inside financial institutions. Try and hold off from using the sketchy gas station machines if possible. And if you do know you’re going to need to use your credit card more than cash, make sure to have at least two cards on you in case one needs to be immediately frozen due to suspicious activity. Stay safe and make sure to report any oddities in your financial reports to your bank or card services as soon as you see them.
