Bank of America insider to admit planting malware on ATMs

A worker at Bank of America is expected to plead guilty tomorrow to charges that he installed malware onto his employer’s ATM cash machines that allowed him to withdraw cash without being noticed.

According to prosecutors, 37-year-old Rodney Reed Caverley of Charlotte, North Carolina, was a member of the bank’s IT staff when he infected the ATMs, giving himself the opportunity to make fraudulent withdrawals for a period of seven months until October 2009.

Precise details of how much money is believed to have been stolen have not yet been made public, but it is believed to be at least $200,000.

A spokeswoman with Bank of America says that the firm’s staff detected the problem through their internal systems, and that customers accounts were never at risk. Hopefully the case will act as a handy reminder to all financial firms to keep a watchful eye on who they employ in their IT departments with responsibility for designing and maintaining their computer systems.

Caverley faces up to…

Read more in my article on the Naked Security website.

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Graham Cluley is a veteran of the cybersecurity industry, having worked for a number of security companies since the early 1990s when he wrote the first ever version of Dr Solomon's Anti-Virus Toolkit for Windows. Now an independent analyst, he regularly makes media appearances and is an international public speaker on the topic of cybersecurity, hackers, and online privacy. Follow him on Twitter, Mastodon, Bluesky, or drop him an email.