Federal prosecutors in Brooklyn have revealed that an international team of thieves had stolen close to $45 million in a matter of hours using hacked ATM debit cards. In New York City alone, thieves struck 2,094 ATM machines in 10 hours withdrawing $2.4 million in cash. It was the largest ATM heist in history.
Tag: atm
Thieves take advantage of bank software bug to steal $1 million from cash advance machines without overdrawing accounts
Citigroup software includes a mechanism intended to prevent the same “cash advance kiosk” withdrawal from being posted twice to an account. If near identical, near simultaneous transactions are submitted, the system is programmed to ignore all but one of the transactions. Thieves in California and Nevada discovered the flaw and took advantage of it.