Cybersecurity and Financial Infrastructure

The FBI has issued a cybersecurity alert to U.S. financial institutions warning of a surge in ATM 'jackpotting' incidents, in which criminals install malware that forces machines to dispense cash on command without a valid card or account. According to the alert, nearly 1,900 such attacks have been reported since 2020, with more than one‑third occurring in just the last year and losses in 2025 already topping $20 million. The article details how attackers often use generic keys to open ATM service panels, remove and infect or swap the storage drive, and deploy malware like the Ploutus family that exploits common XFS software interfaces while many machines still run outdated Windows systems such as Windows 7. The FBI is urging banks to monitor for unauthorized files, disable USB ports, upgrade physical locks and add alarms, but acknowledges that retrofitting hundreds of thousands of ATMs nationwide will take time, leaving laggards exposed. While account holders are not usually on the hook for these direct losses, experts note that large‑scale criminal drains on ATM networks ultimately feed into higher costs and fees across the banking system.