In what is believed to be one of the biggest robberies ever executed, cyberthieves stole nearly $50 million from a pair of Middle Eastern banks. Far from bullying their way into vaults, members of this crime ring reportedly hacked into credit card processing firms and withdrew money from ATMs in 27 different countries. The plan worked by increasing the available balance and withdrawal limits on prepaid debit cards. Counterfeit cards were then given to people around the globe, and ATM runs — thousands of them — ensued.
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High-Tech Plot Leads to Record-Breaking Heist
Posted by: David Vranicar May 10, 2013 09:50 AMIn what is believed to be one of the biggest robberies ever executed, cyberthieves stole nearly $50 million from a pair of Middle Eastern banks. Far from bullying their way into vaults, members of this crime ring reportedly hacked into credit card processing firms and withdrew money from ATMs in 27 different countries. The plan worked by increasing the available balance and withdrawal limits on prepaid debit cards. Counterfeit cards were then given to people around the globe, and ATM runs — thousands of them — ensued.