Federal authorities warn about ATM hacks

Here's a warning for anyone with a debit card. The federal government is concerned about thieves targeting ATM machines.

'Hackers are installing malware on bank computer networks and changing ATM settings to withdraw more money than you even have in your account. In one case, thieves hacked into just 12 accounts and managed to withdraw $40 million,' 'GMA' reported.

Federal authorities noted the attacks usually take place on weekends and holidays, because extra money is loaded into the ATM machines and there's less monitoring of the machines by banks.

The Los Angeles Times says regulators have realized hackers also steal money by distracting bank security employees.

'Hackers cripple bank customer websites by bombarding them with millions of electronic demands. Such attacks can be used as diversions, forcing bank security employees to deal with them while the fraudsters hack their way into bank computers.'

Now, authorities haven't named specific banks that have been hit by these hackers, but The Wall Street Journal reported they seem to be focusing on small and mid-size banks.

KLAS spoke with Fiberhub's chief technology officer Rob Tyree, who suggested debit card users switch to using their credit cards for the time being.

'Just as the technology improves to prevent them, the technology perpetrate them also improves.'

Tyree also suggested debit card users sign up for phone and email alerts to notify them of any account activity.