The U.S. Secret Service is warning banks across the country about a new means of robbing ATMs, previously seen in Europe and Mexico, but now hitting the U.S for the first time in a coordinated way.

It's called "jackpotting." It works just like it sounds, an ATM machine is compromised to spit out cash to a fraudster at a furious rate of 40 bills every 23 seconds.

The Secret Service says they've seen about a dozen cases across the country from the mid-Atlantic region through New England, the Pacific Northwest and Louisiana. "What we’re finding is the attacks really started in a coordinated effort in December and well north of a million dollars has been taken," supervisory special agent Matt O'Neill said.

Read more in ABC News.