60-Second Cash Kiosk Hackers Steal $1 Million: FBI

Source: Information Week

By Mathew J. Schwartz InformationWeek
October 31, 2012 12:02 PM

The FBI has arrested more than a dozen people on charges that they participated in a gang that stole over $1 million via cash-advance kiosks at 11 casinos and resorts.

According to the FBI, the related indictment, unsealed Friday, said the gang "stole the money by exploiting a gap--which required multiple withdrawals all within 60 seconds--in Citibank's electronic transaction security protocols." The gang predominantly targeted casinos and resorts in Las Vegas and southern California.
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According to court documents, accused ringleader Ara Keshishyan, 29, recruited other members of the gang to open multiple Citibank checking accounts, which he filled with seed money. "When inside the casino, the conspirators, including Keshishyan, used cash advance kiosks at casinos in California and Nevada to withdraw -- all within 60 seconds -- several times the amount of money deposited into the accounts, by exploiting the Citibank security gap they discovered."
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Attackers are increasingly using a simple method for finding flaws in websites and applications: They Google them. Using Google code search, hackers can identify crucial vulnerabilities in application code strings, providing the entry point they need to break through application security.

Read more: http://www.informationweek.com/security/attacks/60-second-cash-kiosk-hackers-steal-1-mil/240012604