News

ATM skimming ring busted in NYC

November 21, 2011

A ring responsible for stealing credit card data at ATMs in New York City and using the data to make fraudulent transactions has been broken up by law enforcement.

According to a report from Reuters, Manhattan District Attorney Cyrus announced three suspects from Canada were arrested for allegedly using ATM skimming devices to steal card information from 1,500 people and using the information to make more than $285,000 in illegal transactions.

Using a combination of ATM skimming devices and hidden video cameras to record PIN numbers, Nikolai Ivanov, Dimitar Stamatov and Iordan Ivonov targeted customers at four ATMs in Union Square in Manhattan and then used the data to make transactions in Arizona, Illinois and Canada, the Reuters article said.

Two of the suspects, Nikolai Ivanov and Stamatov, have been in custody since May, but the third suspect, Iordan Ivanov, is still in Canada while the U.S. Department of Justice works to extradite him.

According to Reuters, the suspects were native Bulgarians and proceeds from their illegal transactions were sent back to Bulgaria.

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