Why the Net is closing in fast on ATM hackers
The cyberthieves don’t have much time left. The Internet of Things (IoT) is coming.
The IoT is the largest commercial enterprise the world has ever seen. Over the next 10 years it will generate more than US$11 trillion in new commerce. It will encompass virtually all industries and sectors, from transport, nuclear energy, space exploration and weapons systems to baby products, banks and the audio-visual units in your home.
It is a virtually unlimited phenomenon with potentially exponential benefits.
Currently, Thailand’s top five banks are reducing branch staff by up to 30 per cent because of IoT.
Here is where the fight against ATM hackers will be won. Sooner rather than later, both the Government Savings Bank and others operating ATMs made by the firm NCR will employ a single IT specialist sitting in a room at headquarters and monitoring all 7,000 machines nationwide. With the proper – and simple – IoT software, he or she will be able to detect a malware-disbursement situation and call the police, who will then apprehend the culprits while they are still waiting for the ATM to present the cash! Alternatively, they will shut the ATM down immediately.
Al Eberhardt
