27 March 2017
visit nextgenbanking.co.uk

Guilty plea in $23m card fraud case

12 August 2014  |  5508 views  |  0 red light

A US man has admitted leading a stolen credit card trafficking ring that racked up fraud losses of more than $23 million.

Between 2010 and 2013, Miguel Gonzalez used email and instant messaging to buy credit card data associated with around 114,000 accounts that had been stolen through network intrusions at corporations, including retailers in New Jersey.

Gonzalez and his ring used the information to create counterfeit credit cards and then make fraudulent transactions worth more than $23 million. Gonzalez bought multiple homes, expensive jewellery and a speedboat.

He has pleaded guilty to one count of conspiracy to commit wire fraud, which carries a maximum potential penalty of 30 years in prison and a $1 million fine. Sentencing is scheduled for 21 November.
KeywordsLEGAL

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

Russian pleads not guilty to POS hacking

Russian pleads not guilty to POS hacking

11 August 2014  |  4765 views  |  0 comments | 5 tweets | 3 linkedin
As US card fraud rises, firms increase security spending

As US card fraud rises, firms increase security spending

04 April 2014  |  5465 views  |  1 comments | 8 tweets | 7 linkedin
Target hackers used POS malware to steal card details

Target hackers used POS malware to steal card details

14 January 2014  |  6754 views  |  0 comments | 5 tweets | 5 linkedin
Cyber-crime cops bust malware ring behind £1 million bank thefts

Cyber-crime cops bust malware ring behind £1 million bank thefts

11 December 2013  |  5312 views  |  0 comments | 8 tweets | 5 linkedin

Related blogs

Create a blog about this story (membership required)
visit abe-eba.euVisit capgemini.com

Top topics

Most viewed Most shared
French retailer Carrefour launches online bank accountFrench retailer Carrefour launches online...
57470 views comments | 16 tweets | 36 linkedin
European Commission opens public consultation on fintechEuropean Commission opens public consultat...
10189 views comments | 44 tweets | 27 linkedin
MAS to roll out national KYC utility for SingaporeMAS to roll out national KYC utility for S...
9795 views comments | 31 tweets | 40 linkedin
Can banks really win in the payments business of the future? – new Finextra reportCan banks really win in the payments busin...
9113 views comments | 23 tweets | 37 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job