ATM loots in Kolkata: Outdated system costs ICICI 36.9 lakhs

In between May 14th to 22nd this year, three incidents of ATM loots have been reported. These involve breaking the end-to-end encryption between the terminal and the ATM. As per reports from Kolkata police around Rs.40 lakh have been reported stolen in this manner.  

Among the three ATM loots, Rs. 18.8 lakh from New Market, Rs. 13.8 lakh from Jadavpur and Rs. 7 lakh from Cossipore have been reported withdrawn as per an India Today report. The fraudsters succeeded in the looting process after opening the upper hood of the ATM machine. Then, they disconnected the cable that connects the machine to the bank server. Later they attached a device to this cable which enables them to block and alter the return SMS mechanism. After this, the machine started dispensing cash. Previously, similar incidents were reported in Delhi-NCR with a particular type of ATM machine.

Surprisingly, this time all the incidents belonged to ICICI Bank which is mentioned by HITACHI. However, they have claimed that even after they furnished notice to ICICI they did not update the system. Now, an investigation has been called. Thus, the result of investigations will clear things better!

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