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Cyber Criminals Arrested on Accusations of Stealing $15 Million from Banks

Cyber Criminals Arrested on Accusations of Stealing $15 Million from BanksRomanian law enforcement arrested a cyber-criminal gang accused of stealing over $15 million from banks and financial institutions, according to news reports.

The 25 men have allegedly been hacking banks and cloning payment cards stolen from Puerto Rico and Muscat (Oman).

In 2013, hackers stole payment card data from large corporations, cloned the cards and used them to withdraw money from ATMs in various countries including the US, Belgium, Canada, Colombia, the Dominican Republic, Egypt, Estonia, Germany, Indonesia, Italy, Latvia, Malaysia, Mexico, Pakistan, Russia, Spain, Sri Lanka, Thailand, Ukraine, the United Arab Emirates and the UK.

According to Romanian prosecutors, the gang made the withdrawals in batches, during a short period of time.

“On Feb. 20, 2013, for example, members of the gang withdrew $9 million from ATMs in Japan. On Dec. 2 that same year, the gang made around 4,200 withdrawals from ATMs across 15 Romanian cities, totaling $5 million,” according to CSO online.

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Alexandra GHEORGHE

Alexandra started writing about IT at the dawn of the decade - when an iPad was an eye-injury patch, we were minus Google+ and we all had Jobs. She has since wielded her background in PR and marketing communications to translate binary code to colorful stories that have been known to wear out readers' mouse scrolls. Alexandra is also a social media enthusiast who 'likes' only what she likes and LOLs only when she laughs out loud.