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FBI warns banks of global fraud ATM cash-out in coming days

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The Federal Bureau of Investigation (FBI) of the US has issued a warning to the banks that the cybercriminals are planning to conduct a global fraud scheme called ATM cash-out.

The FBI confidential alert read, ‘cyber criminals are planning to conduct a global Automated Teller Machine (ATM) cash-out scheme in the coming days, likely associated with an unknown card issuer breach and commonly referred to as an unlimited operation.’, Krebs on Security reported.

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The ATM cash-out process

In this fraudulent process, the hackers use a cloned card at cash machines around the world to transfer money.

The alert added that the hackers will place a malware to eliminate multiple security and fraud controls implemented by the financial institutions to remove all limits on transactions.

Furthermore, the crooks are able to change account balances and other security firewalls. In turn, this allows unlimited funds to be available during ATM cash-out transactions.

The cloned cards used in these transactions are made by procuring stolen card data. Following this, the details are printed on reusable magnetic strip cards.

These new illegitimate cards are used at appropriate time by the crooks.

Most of these ATM cash-out operations are carried out at the weekends when the banking and financial institutions are closed.

The fraudsters are also said to target the small and medium sized institutions. Usually, these have lesser cyber security controls and are prone to phishing and cyber attacks.

In this situation, FBI has requested all the banks to evaluate the performance of their security systems. If needed, the response is to implement proper authentication measures as required to tackle the cyber threat.

The advisory also calls for an implementation of a dual authentication procedure. This is to be used if the amount of withdrawal increases above a specified threshold

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24 Hours Across Africa

Nigeria announce 21-Squad for U17 Fifa World Cup.

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Nigeria under-17 coach Manu Garbage has announce a final 21-man squad for the Fifa Under-17 World Cup in Brazil later this month.

Nigeria are the most successful team in the history of the event with five wins (in 1985, 1993, 2007, 2013 and 2015) and three runners-up medals.

The West Africans are in group B alongside Hungary, Ecuador and Australia and will face Hungary in their opening game on 26 October.

They will lock horns with Ecuador three days later before they play their final group match against Australia on 1 November.

Nigeria squad:

Goalkeepers: Sunday Stephen (Football College Academy), Joseph Oluwabusola (Bournemouth, England), Daniel Jinadu (West Ham United, England)

Defenders: Usman Ibrahim (Giant Brilliants FC), Quadri Edun (G12 FC), Charles Etim (Blessed Stars Academy), Ferdinard Ikenna (A&B FC)

Midfielders: Daniel Francis (FC Hearts), Monsuru Opeyemi (B. Angel FC), Ibrahim Said (Dabo Babes Academy), Samson Tijani (Collings Edwin FC), Hamzat Ojediran (Jossy United FC), Peter Agba (Falala FC)

Forwards: Wisdom Ubani (Giant Brilliants FC), Peter Olawale (Delta Warriors FC), Akinkunmi Amoo (Sidos FC), Oluwatimilehin Adeniyi (Sporting Dreams FC), Olakunle Olusegun (ABS FC), Ibraheem Jabaar (Ijebu FC), Abba Bichi (Talentbase Sport FC), Divine Nwachukwu (Riverline FC).

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24 Hours Across Africa

Victor osimhen bags player of the month award

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Lille’s Nigeria international Victor Osimhen has been named September’s French Ligue 1 Player of the Month.

The 20-year-old striker, who joined the club in August from Belgian side RSC Charleroi, scored twice and provided two assists in five matches last month as Lille climbed into the top five.

“It’s been an amazing time at this club and to get this award is surreal,” says Osimhen

“I’m grateful to those who voted, thankful to my teammates, our backroom staff and the entire Lille fans for the love.

“I never expected this to happen so soon but I guess this is what comes when you are surrounded by great players, loved ones and the blessings of God.”

Osimhen saw off the challenges of Monaco’s Algerian international Islam Slimani and veteran Nantes defender Nicolas Pallois to the monthly honour awarded by the Player’s Union (UNFP).

He succeeds Angola-born Rennes midfielder Eduardo Camavinga, who won the August award and became the youngest ever winner at the age of 16.

An incredible two months for Osimhen in the colours of Lille has resulted in eight goals in 11 appearances for the northern club.

Osimhen was the top scorer as Nigeria clinched a fifth Under-17 World Cup title in 2015 with 10 goals in Chile, which saw him win the Golden Boot and Silver Ball.

He also scored on his full debut for Nigeria in a 2-2 friendly draw against Ukraine in September.

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