22 May 2018
Visit www.fingerprints.com

Feds bust international card fraud gang

01 April 2014  |  5590 views  |  0 chicago Skyline

US authorities have indicted 17 people accused of using stolen card data from Europe to withdraw hundreds of thousands of dollars from ATMs in Chicago.

The FBI arrested 13 defendants in the Chicago area last week, while another two were picked up in Sofia, Bulgaria and face extradition.

According to the 29-count indictment, Bulgaria-based Radoslav Pavlov and Mihail Petrov fraudulently obtained card numbers and PINs from Europe and then sent them via e-mail and Skype to gang leader Gheorgui Martov - AKA Mitsubishi - in Chicago.

The stolen data was then encoded onto magnetic strip cards which were handed out to several defendants who took cash from ATMs around Chicago, often just before and after midnight in order to circumvent withdrawal limits.

Proceeds where then funneled out of the US to Bulgaria and elsewhere through a money transfer company co-owned by Martov and other defendants.

The 13 defendants arrested in Chicago have been arraigned and have pleaded not guilty to the charges. Another of the 17 was already in custody while one is still a fugitive.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Visa and MasterCard launch cross-industry effort to push US adoption of EMV

Visa and MasterCard launch cross-industry effort to push US adoption of EMV

07 March 2014  |  11808 views  |  4 comments | 20 tweets | 19 linkedin
Internet drives growth in European card fraud - ECB

Internet drives growth in European card fraud - ECB

25 February 2014  |  6262 views  |  1 comments | 5 tweets | 10 linkedin
Feds shut down counterfeit card site

Feds shut down counterfeit card site

27 January 2014  |  3529 views  |  0 comments | 4 tweets | 1 linkedin
US chip card debate heats up

US chip card debate heats up

26 April 2013  |  15460 views  |  0 comments | 13 tweets | 7 linkedin
Crooks steal $11m in ATM heists; 18 accused of £200m card fraud

Crooks steal $11m in ATM heists; 18 accused of £200m card fraud

06 February 2013  |  7161 views  |  0 comments | 7 tweets
Bulgarian hacker sentenced to four-and-a-half years

Bulgarian hacker sentenced to four-and-a-half years

25 February 2009  |  4802 views  |  0 comments

Related blogs

Create a blog about this story (membership required)
Visit http://go.jumio.com/finextraAdVisit www.abe-eba.euVisit iliad-solutions.com/

Top topics

Most viewed Most shared
PayPal agrees $2.2 billion deal for iZettlePayPal agrees $2.2 billion deal for iZettl...
9423 views comments | 16 tweets | 28 linkedin
BBVA begins global roll-out of unified mobile appBBVA begins global roll-out of unified mob...
8278 views comments | 6 tweets | 5 linkedin
Former JPMorgan blockchain leads unveil new startupFormer JPMorgan blockchain leads unveil ne...
8035 views comments | 2 tweets | 2 linkedin
Deutsche Bank acquires Indian Open Banking software house Quantiguous SolutionsDeutsche Bank acquires Indian Open Banking...
7107 views comments | 10 tweets | 8 linkedin
Japanese banks join quantum computing hubJapanese banks join quantum computing hub
6994 views comments | 8 tweets | 5 linkedin

Featured job

Basic c Euro 120K, Variable Euro 120K - full ben...
Paris prefered London possible

Find your next job