Barnaby Jack, a Computer Security Researcher from New Zealand, has demonstrated the technique of splitting out cash from an automatic teller machine with the help of Internet.

He illustrated the technique in front of overflow crowd of hackers during a presentation at the renowned DefCon gathering in Las Vegas.

Jack said that with the help of this discovery, you do not need to go to ATM as you can do it from the comfort of your home.

Jack proved his discovery by using two kinds of ATM, which are found typically in bars, corner stores or other standing alone, but according to him, main flaw is expected to exist in the bank machines.

Remote management software is used by banks to examine and control their ATM machines and jack took advantage of their weakness with the help of Internet.

“This is the first time anyone has taken the approach of trying to attack the underlying software. It is time to find software defenses rather than hardware defenses”, said Jack.

Jack has also found the technique of capturing data account from the magnetic strips on bank cards or credit cards and passwords of ATM users. He has also discovered master keys for standalone machines, which are available for online purchasing.