Secret service nabs Romanian ATM fraudster

By

Skimmed 40 ATMs in New York City.

The US Secret Service has arrested a Romanian man accused of running an ATM fraud racket.

Secret service nabs Romanian ATM fraudster

US authorities say Laurentiu Bulat installed electronic skimming devices -- which included card readers and cameras to record personal identification numbers -- on at least 40 HSBC ATMs.

Bulat and his unidentified co-conspirators eventually retrieved the devices, which recorded data that was used to create cloned cards and steal at least $1.5 million from customer accounts.

Bulat was arrested Thursday morning after video caught him installing the devices on two ATMs in Manhattan, prosecutors said. He was collared after he returned to the ATMs to fix the devices and was found to be in possession of a screwdriver.

Authorities charged Bulat, who has an expired U.S. visa, with one count of bank fraud and one count of conspiracy to commit bank fraud. He faces up to 60 years in prison, if convicted.

In November, three other accused skimmers -- apparently part of another operation -- were indicted in New York.

Skimming has become a preferred vector for bank fraud in the US.

A November 2010 from the Better Business Bureau said the technology is used to steal about $1 billion annually, and one in five people have fallen victim to such heists.

This article originally appeared at scmagazineus.com

Got a news tip for our journalists? Share it with us anonymously here.
Copyright © SC Magazine, US edition
Tags:

Most Read Articles

CBA using facial recognition logins to verify disputed payments

CBA using facial recognition logins to verify disputed payments

Researchers demo AI-crippling GPUHammer attack

Researchers demo AI-crippling GPUHammer attack

Qantas obtains court order to prevent third-party access to stolen data

Qantas obtains court order to prevent third-party access to stolen data

Google Gemini for Workspace vulnerable to prompt injection attacks

Google Gemini for Workspace vulnerable to prompt injection attacks

Log In

  |  Forgot your password?