The U.S. will get a rare chance to prosecute one of the world's most-wanted cybercriminal suspects with the extradition of a Turkish man accused of orchestrating a global operation to hack automated teller machines.
Ercan Findikoglu, 33, boarded a flight to New York on Tuesday after losing his fight against extradition from a German prison, according to a law enforcement official who asked for anonymity because the operation wasn't yet public. He was arrested during a trip to Frankfurt by German authorities in December 2013 after eluding U.S. capture for five years.
Findikoglu allegedly organized a criminal operation that stole $40 million in cash from ATMs within 10 hours in February 2013 in New York City and 23 other countries, according to a ruling in his extradition case from the Federal Constitutional Court of Germany. The so-called unlimited cash out operations used hacked debit cards with withdrawal limits removed to make ATMs spew money.
(Score: 0) by Anonymous Coward on Friday June 26 2015, @09:05PM
The resistance starts with the requirement that all merchants need to upgrade their equipment - dunno about how things work elsewhere, but here in the U.S. that comes out of the merchant's pocket. The credit card processors are, more and more, trying to make fraud the responsibility of the merchant. (Witness the colossal clusterfuck that is PCIDSS - an end run that makes all fraud problems the fault of the merchant and NOT the processor or credit card issuer. Only a few players, like Square, have the balls to fight that.)
And, to top it all off, come October 1st, any merchant who processes a chip card as a straight charge (still can be done) and the charge is fradulent now gets eaten by the merchant. So the incentive is certainly there to upgrade - all on the merchant's backs.
This doesn't even start to recognize that merchants are already charged for every transaction anyway. (i.e. the merchant bears the cost for allowing charges to occur in the first place.)
I remember the days when credit cards struggled for acceptance in the merchant sphere, and I miss them mightily. But there's no putting the djinni back in the bottle.