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Coordinated, Global ATM Heist Nets $13 Million

Posted by Soulskill on from the get-rich-really-really-quick-schemes dept.

An anonymous reader writes "An international cybercrime gang stole $13 million from a Florida-based financial institution earlier this year, by executing a highly-coordinated heist in which thieves used ATMs around the globe to cash out stolen prepaid debit cards. 'Prepaid cards usually limit the amounts that cardholders can withdraw from a cash machine within a 24 hour period. Apparently, the crooks were able to drastically increase or eliminate the withdrawal limits for 22 prepaid cards that they had obtained. The fraudsters then cloned the prepaid cards, and distributed them to co-conspirators in several major cities across Europe, Russia and Ukraine.' The attack is eerily similar to the 2008 attack on RBS WorldPay that stole $9.4M. The men who pleaded guilty to the RBS attack were arrested and charged in Russia, but were later given only probation."

5 of 122 comments (clear)

  1. every-24-hour coordination by Iamthecheese · · Score: 5, Interesting

    Many banking systems only talk to each-other in nightly batches. It's mostly done that way because that's the way it's always been done, and to save money on entirely new systems. The every-24-hours style is less secure, slow, and inefficient. This is 2011 and there's no real excuse for it.

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  2. Honesty by Anonymous Coward · · Score: 4, Insightful

    "The attack is eerily similar to the 2008 attack on RBS WorldPay that stole $9.4M. The men who pleaded guilty to the RBS attack were arrested and charged in Russia, but were later given only probation."

    Would you try to steal $9.4M by nonviolent means if you knew that the penalty for being caught was probation? Be honest.

    1. Re:Honesty by scorp1us · · Score: 4, Funny

      It's still more honest than members of congress. At least with the heist, you know you're getting robbed.

      In America, the government robs you then sends you the bill.

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    2. Re:Honesty by mr1911 · · Score: 3, Funny
      You imply the United States has a functional government.

      Amusing, but this is the same as every other country with a dysfunctional government.

      FTFY

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  3. 13 milion is nothing compared to what by decora · · Score: 3, Insightful

    Goldman Sachs and the others just stole from the taxpayers.

    have you seen the recent FOIA files released on the 'secret bailout'? billions and billions and billions. and a lot of it went to pay bonuses to those guys at the CDO and mortgage securities departments at those banks. massive, overwhelming fraud, completely unpunished. and we whine about hackers stealing 13 million from an ATM.

    13 million would not even cover a year of a bailed-out bank CEO executive bonus. it wouldnt even be a drop in the bucket of the Boards of Directors payments (many of whom do exactly nothing). 13 million is what John Thain wiped his ass with at Merrill Lynch.

    wake up folks. wake up. watch The Young Turks for more info