Regulatory Alerts2017-01-01
Circular No. 31: Emerging Criminal Methods in ATM Hacking and Theft
The Palestine Monetary Authority issued Circular No. 31/2017 to alert all operating banks to a new criminal technique involving physical drilling into ATMs to access internal data cables and hijack them via specialized devices, particularly targeting unencrypted machines. The circular mandates that all banks immediately implement necessary preventive safeguards and conduct regular physical inspections of their ATM networks to mitigate this specific vulnerability. Financial institutions are required to ensure continuous monitoring and system hardening to prevent unauthorized access, hacking incidents, or physical theft of ATM components.
Palestine Monetary Authority
PALESTINE MONETARY AUTHORITY
Circular No. (31/2017)
To all banks operating in Palestine
Date: Sunday, 19 February 2017
Subject: Emerging Criminal Methods in ATM Hacking and Theft.
With reference to the above subject, and to information regarding emerging criminal methods in ATM hacking and theft, which involve drilling into the ATM to access the internal data cables in order to control it via special devices, and noting that this method is used on ATMs that do not utilize an encryption system, all banks are hereby requested to take the necessary preventive measures and safeguards to ensure that ATMs are not exposed to any hacking incidents or theft attempts, and to conduct periodic inspections of all ATMs to prevent such incidents from occurring.
Deputy Governor
for Financial Stability
Ramallah - Palestine P.O. Box 452 | Tel: +970 2 2415250 | Fax: +970 2 2409922
Gaza - Palestine P.O. Box 4026 | Tel: +970 8 2825292 | Fax: +970 8 2844487
Email: info@pma.ps