Systems, Devices Aids Criminals . How Fraudsters Conceal ATM Fraud A recent ATM fraud scheme that targeted banks in New York, New Jersey and Connecticut illustrates just how sophisticated these types of attacks have become. While the skimming devices and equipment used in these kinds of attacks have not changed much over the years, the criminals methods have become far more sophisticated, experts say. For example, as fraudsters gain more knowledge about how banks and processors route and review ATM transactions, they can more effectively keep their schemes concealed. On Nov. 6, federal authorities announced guilty pleas filed by two Romanian natives who helped orchestrate the tri-state skimming scheme that defrauded consumer bank accounts of more than $5 million. From 2012 to early 2013, Ioan Leusca, a.k.a. Ionel Spinu, and Dezso Gyapias installed skimming devices and pinhole cameras used to capture PINs as theyre entered on a keypad at numerous ATMs, according to the U.S. Attorneys Office in New Jersey. Leusca and Gyapias, along with other conspirators, then later used the card details they collected to create fake ATM/debit cards that were used to make fraudulent withdrawals. Citibank Targeted Citibank ATMs were the primary targets for the fraudulent withdrawals, authorities say. Some $985,000 was withdrawn from Citi ATMs. Matt Riley, spokesman for the U.S. Attorneys Office, says other ATMs were likely targeted as well, although no other bank was specifically noted in his offices announcement of the guilty pleas. Leusca and Gyapias admitted to the roles they played in collecting skimming devices from tampered ATMs after they had recorded card information. Each was charged with conspiracy to commit bank fraud and aggravated identity theft, court records show. Each now faces a sentence of up to 30 years in prison and a $1 million fine for the bank fraud conspiracy charge and up to two years in prison and a $250,000 fine for the aggravated ID theft charge. Sentencing is scheduled for Feb. 20. Eight others also have been charged as part of a wider scheme that included Leusca and Gyapias. Of those eight, seven have been taken into custody, authorities says. legalshield/idt/stanleymcvay
Posted on: Thu, 21 Nov 2013 18:17:39 +0000
Trending Topics
Recently Viewed Topics
© 2015