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May 10th, 2013 
Peter Nolan
The hackers then created new access codes which they loaded onto any card with
a magnetic strip – an old hotel key card or an expired credit card would do
as long as it carried the account data and correct access codes for the
bank’s systems.
From this point, the only thing remaining was the need to start withdrawing
the funds as quickly as possible: cells around the globe fanned out and
began to make repeated cash machine withdrawals. In New York City alone, 750
transactions were made in two hours and 25 minutes from 140 different ATMs
totalling $400,000, prosecutors said.
The malware also allowed hackers to maintain access to the systems, and make
sure withdrawals ceased as soon as the breach was discovered. Once cash was
laundered, collaborators could be paid.
Experts say that while large sums of money were lost, the attack does not come
close to the totals generated by lower-level global fraud – and in fact this
large-scale attack could end up prompting banks to tighten their security
systems for the future.
Source Article from http://telegraph.feedsportal.com/c/32726/f/568301/s/2bc18bbd/l/0L0Stelegraph0O0Ctechnology0Cinternet0Esecurity0C10A0A496280CHow0Ehackers0Edefeated0Ethe0EATM0Bhtml/story01.htm
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