Cyber-criminals drain ATMs of $45m in a few hours

The sophistication of a global network of thieves who drained cash machines around the globe of $45m (€35m) in mere hours sent ripples through the security world, not merely for the size of the operation and ease with which it was carried out, but also for the threat that more such thefts may be in store.

Seven people were arrested in the US, accused of operating the New York cell of what prosecutors said was a network that carried out thefts at ATMs in 27 countries from Canada to Russia. Law enforcement agencies from more than a dozen nations were involved in the probe.

“Unfortunately these types of cybercrimes involving ATMs, where you’ve got a flash mob going out across the globe, are becoming more and more common,” said Rose Romero, a former federal prosecutor and regional director for the US Securities and Exchange Commission.