Secret Service Warns Banks: Beware of ATM 'Jackpotting'

The U.S. Secret Service has begun warning banks of a new method of stealing from ATMs, known as "jackpotting," ABC News reports.

First seen in Mexico, Europe and Asia, "jackpotting" involves the use of a generic key to open an ATM and install a backdoor that allows the thief to take remote control of the machine and force it to dispense as much as 40 bills every 23 seconds.

"That's where you get the term jackpotting from because it is basically like a slot machine that you hit the jackpot — you are basically taking all of the money out of the ATM," supervisory special agent Matt O'Neill told the news network.

O'Neill added that perpetrators usually work in pairs, with one posing as a technician to compromise the machine, and another to act as a "money mule" who goes to the ATM at a later time and alerts the first to begin the withdrawal sequence. After the machine is empty, the fake technician will often return to the ATM to recover their equipment.

"It runs until it is empty or the person standing at the ATM alerts the controller of the ATM to stop the withdrawal sequence because either law enforcement is nearby or for whatever reason they get spooked and want to leave the scene."

• ATM Makers Warn of 'Jackpotting' Hacks on US Machines
• Hackers Linked to Russians Target Banks From Moscow to Utah