How to withdraw up to $50,000 in cash from an ATM by using data stolen from EMV cards | Homeland Security Degrees

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Researchers have demonstrated how crooks can make ATMs spit out thousands of dollars in cash in just a few minutes by using data stolen from EMV cards.

When the EMV (Europay, MasterCard, and Visa) was introduced, the vast majority of security experts believed solved the problems caused by easy to clone magnetic stripe cards.

EMV chip-equipped cards implement an extra layer of security which makes these cards secure than the magnetic stripe cards.

In reality, also Chip-and-PIN cards are not so complicated to hack, this is what a group of researchers from Rapid7 demonstrated at the Black Hat…

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