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International credit card fraud gang steal £5m from RBS

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International credit card fraud gang steal £5m from RBS

Eight international fraudsters have been charged with stealing £5.4 million from the Royal Bank of Scotland, after hacking into its payment processing arm in what prosecutors have described as one of the most sophisticated credit card frauds they have ever seen. 

According to the Telegraph newspaper, the eight suspects – aged between 20 and 33 – allegedly stole over £5.4 million in less than 12 hours, withdrawing the funds in 280 cities across the world.
Hacking the codes of some debit cards used by RBS employers to pay staff, they then handed out nearly 50 cards to their accomplices, who withdrew millions of pounds in cash from machines in different cities.
It is thought that the “casher” accomplices were allowed to keep 30-40% of the funds they withdrew, sending the rest on to the main fraud ring.
Allegedly, the ring used complicated hacking techniques to crack the data encryption of RBS WorldPay, which is based in Atlanta, in the States.
Now being indicted by an Atlanta jury, four of the fraudsters could face a jail time of up to 30 years if found guilty.
The supposed mastermind of the credit card fraud ring is currently in a jail in Estonia, waiting to be extradited to the States.

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