February 13, 2009

this one's significant: 49 cities in 30 minutes!

No, not this stupidity: "The Breach of All Breaches?" but this one, spotted by JP (and also see Fraud, Phishing and Financial Misdeeds, scary, flashmob, and fbi wanted poster seen to right):

* Reported by John Deutzman

Photos from security video (see photo gallery at left at bottom right) obtained by Fox 5 show of a small piece of a huge scam that took place all in one day in a matter of hours. According to the FBI , ATMs from 49 cities were hit -- including Atlanta, Chicago, New York, Montreal, Moscow and Hong Kong.

"We've seen similar attempts to defraud a bank through ATM machines but not, not anywhere near the scale we have here," FBI Agent Ross Rice told Fox 5.

"Over 130 different ATM machines in 49 cities worldwide were accessed in a 30-minute period on November 8," Agents Rice said. "So you can get an idea of the number of people involved in this and the scope of the operation."

Here is the amazing part: With these cashers ready to do their dirty work around the world, the hacker somehow had the ability to lift those limits we all have on our ATM cards. For example, I'm only allowed to take out $500 a day, but the cashers were able to cash once, twice, three times over and over again. When it was all over, they only used 100 cards but they ripped off $9 million.

This lifts the level of capability of the attacker several notches up. This is a huge coordinated effort. Are we awake now to the problems that we created for ourselves a decade ago?

(Apologies, no time to do the real research and commentary today! Thanks, JP!)

Posted by iang at February 13, 2009 08:25 AM | TrackBack
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