Malware is likely to blame for the so-called "computer glitch" that over the weekend took down a handful of the country's largest banks' ATMs and online banking sites.
Security researchers are warning financial institutions about the Qakbot Trojan, a rare kind of malware that is allegedly infiltrating large banks and other global financial institutions.
The U.S. reliance on the magnetic stripe is having global consequences. European countries that have made the shift EMV say they are suffering from higher-than-ever incidents of ATM skimming because of the lingering mag stripe.
After an uptick in skimming incidents already in 2010, security experts say that we will see even more skimming in the United States in the months ahead, particularly against ATMs.
There have been roughly 40 incidents of skimming or POS attacks reported so far in 2010. They range from tried-and-true ATM skimming to insider crimes and the troubling new trend of pay-at-the-pump thefts.
While deposit fraud at the ATM has remained stable for the last three to four years, the ability for fraudsters to commit these crimes is significantly reduced when ATMs move to imaged or automated-deposit platforms.
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