The technology now exists to make ATM hacking much easier. 'Shimmer' is a barely there piece of technology that slides into the same slot where credit and debit cards are inserted. Its thin size allows it to go unnoticed and therefore to pick up data straight off of chip-enabled cards.
The skimming device got its name from the word "shim," as it puts itself right in between the chip on the card and the chip-reader in the ATM. This structure allows the Shimmer to read the card exactly the way an ATM would. Its gold rectangles allow it to read the chip, while the black box towards the top of the door collects and stores the data.
This ATM hacking device was found in a machine in Mexico and is likely to be reproduced globally if better safety precautions against chip-readers are not found.
Key Themes Behind This Trend
- ATM Skimming
- Shimmer devices make ATM skimming more prevalent and urges ATM makers to increase their security.
- Cybersecurity
- Shimmer devices highlight the need to invest in cybersecurity measures.
- Financial Fraud
- Shimmer devices enable financial fraud through data theft and highlights the need for stronger security measures.
Where This Applies
- Banking
- Banks must increase their cybersecurity measures to protect themselves and their customers from financial theft.
- ATM Manufacturing
- ATM makers must improve their security measures to prevent skimming and data theft.
- Retail
- Retail establishments that have ATMs must take better security measures to prevent ATM skimming and fraud against customers.
