Penny Crosman is Editor at Large at American Banker. Prior to taking on this role, she was Editor in Chief of Bank Technology News and Technology Editor of American Banker. She has held senior editorial roles at Bank Systems & Technology, Wall Street & Technology, Intelligent Enterprise and Network Magazine, among other titles.
Attacks on ATMs and point-of-sale machines are getting more sophisticated and frequent. Crooks are trying to get as much use as they can out of their skimming devices before the migration to chip cards is complete.
Ransomware attacks are on the rise, as cybethieves find other types of exploits less profitable and bitcoin helps them cover their tracks. Financial institutions must strategize how to avoid becoming victims or, failing that, mitigate the damage.