Bank of America Employee Sentenced Following ATM Scam

A former Bank of America employee was sentenced to twenty seven
months in prison after installing software on the bank’s computers that
allowed him to steal thousands of dollars from ATMs, according to an
Associated Press report.Rodney Reed Caverly of Mint Hill, N.C.
was ordered to pay $419,310.90 in restitution, according to the U.S.
Attorney’s office in Charlotte. Caverly, who worked for BOA’s IT
department, plead guilty last year after it was discovered he’d
programmed certain BOA ATMs “to make fraudulent and unauthorized
disbursements of cash.”

A former Bank of America employee was sentenced to twenty seven
months in prison after installing software on the bank’s computers that
allowed him to steal thousands of dollars from ATMs, according to an
Associated Press report.

Rodney Reed Caverly of Mint Hill, N.C.
was ordered to pay $419,310.90 in restitution, according to the U.S.
Attorney’s office in Charlotte. Caverly, who worked for BOA’s IT
department, plead guilty last year after it was discovered he’d
programmed certain BOA ATMs “to make fraudulent and unauthorized
disbursements of cash.”

The restitution includes $284,750 – the
amount Caverly stole from ATMs and $134,750.90 – the amount it cost Bank
of America to replace the ATM computer system that Caverly had damaged
with malicious code.

While the disbursements of cash were made
without transaction records, they were also made without affecting any
customers’ accounts.

Remote attacks against ATMs gained ground following Barnaby Jack’s demonstration at last year’s Black Hat. While some ATM manufacturers have addressed attacks that utilize software, some of the more recent scams have come from insiders fiddling with the hardware and using ATM skimmers.

The AP has more on this.

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