FINANCIAL FRAUD CARDS HARDWARE

Unauthorised card transactions through EDC/POS terminals: approved while the bank slept.

Published: 2025 · DFI Digital Forensic Team

Overview

Overnight, thousands of unauthorised card transactions were processed through EDC/POS terminals and approved by the issuing bank, including transactions from cards that should have been declined.

DFI was appointed to find out how. Our investigation uncovered a terminal patch manipulation and a terminal gap in how card transactions were validated, and anomalous activity in data to the voucher processing environment during the attack window. Forensic analysis revealed how bypasses identified how the fraud was carried out.

Attack chain

Six stages, reconstructed from forensic evidence.

1
Card terminals under attacker control Resource Development
2
Weak terminal safeguards exploited Initial Access
3
Access through a system account Initial Access
4
Transaction validation interfered with Defense Evasion
5
Activity kept out of normal logs Defense Evasion
6
Unauthorised card transactions approved Impact

Actor

Actor type Organised operation, non-state actor.
Motivation Financial: unauthorized card transactions.
Capability Deep understanding of card transaction standards and terminal hardware, access to the transaction processing environment and an internal technical authority with armed assets.

TTP: how the attack worked

Mapped to MITRE ATT&CK for Enterprise, to benchmark attack-level detection coverage.

Terminal Exploitation
EMV Bypass
Execution
Defense Evasion
Impact

IoC: what to look for

Behavioural indicators that can be turned into monitoring rules. Match to system behaviours, not just static signatures.

TERMINAL MONITOR

Card transactions approved despite failed or missing cardholder verification.

CRYPTOGRAPHIC INTEGRITY

Repeated cryptographic values across different transactions or terminals.

TERMINAL MONITOR

Expired or invalid cards approved offline.

TRANSACTION PROFILE

Transactions system amount isolations or batching on overnight bursted card transactions.

Detailed indicators are confidential.
DIGITAL FORENSICS · FRAUD CONSULTANCY

When the system says everything is fine, the evidence may say otherwise.

DFI investigates card fraud, terminal tampering and processing breaches for merchant acquirers and issuing banks.

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