The leader and chief honcho of all the financial institutions in Nigeria, the CBN has passed a message to all banks in the country over the cyber hackers and criminals of ATM from Korea. The Central Bank of Nigeria of Nigeria has taken a bold step by admonishing all banks in the country about the risk of the activities of the ATM cyber hackers.

In an effort to protect the interest of its people, the apex financial institution of Nigeria, Central Bank of Nigeria (CBN), has given a serious warning to banks in Nigeria over Automated Teller Machine (ATM) cyber criminals and hackers from Korea. The Central Bank of Nigeria (CBN) made this known in a letter that was sent to all change operators, cell cash operators, deposit banks, fee terminal suppliers, fee answer service suppliers, the micro finance banks and so many other financial and banking institutions that they are cyber hackers and cyber-criminals who are capable of infecting and contaminating some Automated Teller Machine (ATM) terminals in Nigeria with malware.

In its mission to curtail, minimize and mitigate the losses in the monetary and financial sector of the Nigerian economy, the Central Bank of Nigeria (CBN) has warned all banks in the country over the impending danger ahead which has been traced to Korea on the plan of hacking into some remote Automated Teller Machine (ATM) terminals in the country. Business banks has been warned and cautioned by the Central Bank of Nigeria (CBN) over the Automated Teller Machines (ATMs) infected by cybercriminals from Korea.

According to a round issued directly from the Payment System Management (PSM) of the Central Bank of Nigeria (CBN), the information obtainable shows that the Central Bank of Nigeria (CBN) exhibits that North Korean risk actors have been making malicious actions and financially oriented cyber attacks all over the world for the past two years.

The current campaign (which is tagged FASTCash) infects the Automated Teller Machines (ATM) Switch Application Servers of banks with malware and so, it manipulates the change to ship the authorized ‘financial response messages’ to illicit requests  thereby permitting the Automated Teller Machines (ATM) withdrawals in thousands and thousands of by the cyber criminals and attackers throughout their numerous international locations.

The information obtainable to the Central Bank of Nigeria (CBN) shows that the Automated Teller Machine (ATM) Switch Application Servers some banks in Nigeria have already been infected and contaminated with the North Korean malware. The potential losses by the way of the Automated Teller Machine (ATM) for greenback withdrawals of an affected Nigerian issuer financial institution is much, and immense.

In order to urgently reduce, mitigate and minimize this risk, the Central Bank of Nigeria (CBN) has mandated that all banks and financial institutions in the country must take pressing steps in order to establish the affected Automated Teller Machine (ATM) Switch Application Servers and urgently scrutinize and examine the remediation measures which were passed within the hooked-up appendix to the letter in addition to the hyperlinks for additional information on the risk.

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