Analecta Cyber Company Blog: Virginia credit union hit by ATM skimmer attack


Virginia credit union hit by ATM skimmer attack

Virginia Credit Union (VACU) based in Richmond, Virginia is conducting an investigation on card skimming incidents that happened at several ATMs and resulted in fraud. During the normal maintenance conducted on one of its branch ATMs, the credit union discovered the skimming devices which led the company to immediately commence an investigation.

They found these card skimming devices at full service branches in Southpark and Glenside over a limited period of time. And the company’s effort served its purpose when they were able to disrupt another possible breach by criminals at a third location. No exact count of fraud is available yet but evidences of it is starting to materialize.

Credit union considering upgrades

VACU already reached out to affected members through a website alert and letter. And as a temporary solution, they are replacing old cards with new ones and started making refunds to victim cardholders. They also recommended that customers change PINs and provided assurance that victims have no liability on the incident.

The credit union’s ATM machines work with cards that have mag stripes. Officials there confirmed plans to upgrade cards to include EMV chips in the future. This chip technology will help increase security, reduce existing card fraud and enable the use of future value-added applications in the payment system. Another recommendation to prevent this type of crime is to include biometrics at the ATM or an out-of-band authentication via personal phones to fill the gap.

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