Illinois' Attorney General is warning residents about an increased risk of unauthorized ATM withdrawals by hackers.
According to a news release from Lisa Madigan's office, the Federal Financial Institutions Examination Council (FFIEC) reported the increase in cyber-attacks. FFIEC says hackers have learned how to delete or alter pre-programmed algorithms set up by banks to alert them of unauthorized ATM withdrawals.
The FFIEC cited a recent ATM attack that netted over $40 million in fraudulent withdrawals using only 12 debit card accounts.
Madigan says residents monitor bank and credit card accounts daily online and billing statements every month.