EC3 helps to dismantle an international network of payment card fraudsters

Romanian and French law enforcement authorities, supported by the European Cybercrime Centre (EC3) at Europol, have successfully dismantled a Romanian organised crime group involved in international payment card skimming and associated fraud.

During a raid on 17 January 2014, 11 suspects were arrested as they planned to travel to Italy to commit skimming attacks. Among them was the leader of the criminal group as well as the financiers.

In addition, 26 premises were searched and illegal equipment seized. Police also dismantled two factories producing skimming devices, including sophisticated miniaturised versions. This activity followed an earlier week-long surveillance exercise carried out by French and Romanian law enforcement officers.

For more information read the related Press Release on the Europol website.

Money laundering at ATMs

Photo courtesy of EAST

Can ATMs be used to launder 'dirty' money back into circulation?  If a genuine card is used to make a cash withdrawal from a bank account that has been opened in an environment where there are lax account opening controls, then yes.  An account could be opened in one country and fed with 'dirty' money - then a genuine card from that account could be used to make hard currency withdrawals at ATMs in another country up to allowed daily withdrawal limits.  The higher the allowed daily limit, the more attractive the country is for criminals.  Prepaid cards can be used for the same purpose. 

Europol supports Geo-Blocking

Europol has just published a ‘Situation Report on Payment Card Fraud in the European Union’ to coincide with the launch of the European Cyber Crime Centre (EC3).  The report which covers 2012, highlights that although overall EU payment card fraud has fallen due to the introduction of EMV (Chip and PIN), whilst the number of payment cards (debit and credit) has risen to over 726 million, international losses (fraud losses outside the EU) continue to rise - and mainly in the USA.  The report states that European Organised Crime Groups (OCGs) are making around 1.5 billion euros annually from payment card fraud.

European Police Take Down a Major ATM Skimming Operation

With the support of Europol, 56 suspected members of a major network of payment card fraudsters (38 in Bulgaria, 17 in Italy and 1 in the Netherlands) were arrested in a coordinated raid across Europe.

This major police operation, led by Italy and Bulgaria, was coordinated from the Operational Centre at Europol headquarters in The Hague. Earlier arrests carried out since the investigation started brings the total number of suspects arrested up to 105.