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Citibank ATM breach reveals vulnerability of PIN-based transactions
July 1, 2008
The Associated Press: Hackers broke into Citibank's network of ATMs inside 7-Eleven stores and stole customers' PIN codes, according to recent court filings that revealed a disturbing security hole in the most sensitive part of a banking record. The scam netted the alleged thieves millions of dollars. But more importantly for consumers, the scam indicates criminals were able to access PINs — theoretically the most closely-guarded elements of banking transactions — by attacking Citibank's back-end computers.
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