5 Charged in Biggest Financial Hacking Case
Data on 160M credit cards stolen
By Newser Editors and Wire Services
Posted Jul 25, 2013 6:27 PM CDT
U.S. Attorney Paul Fishman talks about the arrest of four Russian nationals and a Ukrainian, who have been charged with running a sophisticated hacking organization.   (AP Photo/Julio Cortez)

(Newser) – Four Russian nationals and a Ukrainian have been charged with running a sophisticated hacking organization that penetrated computer networks of more than a dozen major American and international corporations over seven years, stealing and selling at least 160 million credit and debit card numbers. Indictments were announced today in Newark, where US Attorney Paul Fishman called the case the largest hacking and data breach scheme ever prosecuted in the United States. “The losses in this case are staggering,” he said. "This type of crime is really the cutting edge of financial fraud.”

New Jersey's Heartland Payment Systems, which processes credit and debit cards for small to mid-sized businesses, was identified as taking the biggest hit in a scheme starting in 2007—the theft of more than 130 million card numbers at a loss of about $200 million. Atlanta's Global Payment Systems, another major payment-processing company, had nearly 1 million card numbers stolen, with losses of nearly $93 million. Two of the five men were in custody, one in the US and one in the Netherlands. The individuals who purchased the credit and debit card numbers from the hacking organization resold them through online forums or directly to others known as "cashers," the indictment said. US credit card numbers sold for about $10 each; Canadian numbers were $15, and better-encrypted European ones $50.

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Jul 26, 2013 9:29 PM CDT
The cutting edge of financial fraud is the rectangle drawn between the Fed, our Congress, the SEC, and Wall Street.
Jul 26, 2013 10:12 AM CDT
God Blesses America
Jul 26, 2013 6:36 AM CDT
Eagle Eye the injustice seems apparent but your really commenting on a known described phenomenon that has no relationship to the persons race. Whether your skin color is black .white brown yellow whatever if you kill a million people most people will not be as angry as if you sneek into a house and kill a family of four. It may not make any rational sense but the phenomenon is still there. Stealing is the same thing. You hit someone in the head and take the $10 from thier wallet and they will throw you in jail for a long time. Steal the equivalent of 7 cents from every American and you may get a couple of years in jail. If you look at the total it's $10 vs $20 million and it seems to make no sense and I'd agree but the phenomenon still exists. Humans of all races suffer from this effect, not just white people.