ATM Fraud Nets $45 Million, Indictment Says
Eight New York City residents have been charged with taking part in an international fraud ring that, prosecutors alleged, cost two Middle Eastern banks millions in card fraud.
The prosecutors alleged in an indictment made public May 9 that the thieves hacked into the computer networks of the National Bank of Ras Al-Khamah in the United Arab Emirates, commonly called RAKBANK, and the Bank of Muscat in Oman. Once inside, the thieves allegedly gathered debit card data and changed the daily withdrawal limits on accounts. The compromised card numbers were allegedly shared with members of the organization in 26 countries which proceed to loot the banks through ATM networks over the next 13 hours.