Security
BOK Financial sues ATM manufacturer for $7.3M in losses from hackers
October 12, 2022
BOK Financial/TransFund, based in Tulsa, Oklahoma, is suing Hyosung America Inc. for allegedly selling it defective ATMs. The financial institution claims it lost more than $7.3 million in cash in 118 cyberattacks from September 2021 to January 2022, according to a Tulsa World report.
The institution claims it never experienced attacks until it began replacing machines from Diebold Nixdorf with Hyosung ATMs and that none of the other ATMs they purchased were impacted. In particular, BOK Financial alleges in its lawsuit that Hyosung installed most of the ATM routers outside the ATMs, which made it easy for criminals to install malware via jackpotting. It also claims Hyosung didn't install the proper software to prevent theft.
Hyosung claims the attacks were due to the bank not acquiring the proper tools.
"The allegations made regarding the security of its ATMs are false," Hyosung said in a written statement. "The complaint omits BOK Financial's decision not to acquire the encryption and security software. We will respond in due course."
As of the time of writing, Hyosung did not reply to a request from ATM Marketplace to comment.
