Crooks Net Millions in Coordinated ATM Heists

Organized cyber criminals stole almost $11 million in two highly coordinated ATM heists in the final days of 2012.

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The events prompted Visa to warn U.S. payment card issuers to be on high-alert for additional ATM cash-out fraud schemes in the New Year.

Using a small number of re-loadable prepaid debit cards tied to accounts that they controlled, scammers began pulling cash out of ATMs in at least a dozen countries. Within hours, the perpetrators had stolen approximately $9 million.

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