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Four Men Caught In $1.5 Million Skimming Operation

According to PCWorld, three Romanian men and one Austrian man were indicted on Monday by U.S. federal prosecutors. The four men stole over 1.5 Million U.S. dollars by cloning payment cards with stolen account information. The men are charged with skimming (recording account details from the magnetic stripe of payment cards while capturing a person’s PIN by using fake overlays on the number pads.

Accounts were targeted at Citibank, and JP Morgan Chase between March 2010 and May 2011. The affected cities included New York, Miami, and Chicago. The four stole about $110,000 per month over those fourteen months, perhaps splitting it four ways at about $27,000 each, per month ($324,000 individual ‘salary’).

The three Romanian men, “Mihail Draghici, Ionel Dedulescu and Laurentiu Mugurel Manta are charged with conspiracy to commit fraud, conspiracy to commit access device fraud and aggravated identity theft. The Austrian man, Didi Theodor Ciulei, was indicted on the same charges. Draghici and Dedulescu were additionally charged with bank fraud and could face a maximum of 69 and a half years in prison. Ciulei and Manta face up to 62 years if convicted. They were indicted in the U.S. District Court for the Southern District of New York, located in Manhattan.” I am just glad these four were caught, and hope that banks can learn a valuable lesson from all these hacks and manipulations. Bank of America last week, lost over $10 million of its customers’ money.

Photo Courtesy of factoids
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