Hackers stole USD 45 million in ATM card breach

Bs_logoImage
AP New York
Last Updated : May 10 2013 | 1:55 AM IST
A gang of cyber-criminals operating in 26 countries stole USD 45 million by hacking their way into a database of prepaid debit cards, federal prosecutors in New York said today.
The US attorney in Brooklyn, Loretta Lynch, called it "a massive 21st-century bank heist" and said the fraudsters had moved with astounding speed to loot financial institutions around the world.
Seven people are under arrest in the US in connection with the case, which prosecutors said involved thousands of thefts from ATMs using bogus magnetic swipe cards. An eighth person accused of involvement in the US thefts, Alberto Yusi Lajud-Pena, was reportedly murdered in the Dominican Republic late last month, prosecutors said.
An indictment unsealed today accused the eight of being members of the New York cell of a global theft operation. It said they withdrew USD 2.8 million in cash from hacked accounts in less than a day.
Prosecutors said the scheme involved two worldwide attacks in which hackers obtained debit card data, eliminated withdrawal limits on the accounts, and then sent a network of operatives fanning out across multiple cities to rapidly withdraw money.
Law enforcement agencies in Japan, Canada, Germany, Romania and 12 other countries have been involved in the investigation, US prosecutors said. Arrests began in March.
Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Access to Exclusive Premium Stories

  • Over 30 subscriber-only stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: May 10 2013 | 1:55 AM IST