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All cybercrime organization have been arrested for an alleged scheme stealing 45.
Dollars from whereas.
Pretty easy to get off the ball from where rental car plastic here for frequent flyer -- triple AM TA anyone of these pick one just pick one.
You got it okay the MTA card -- metric are you -- -- -- -- -- -- the -- right and notice that this is a prepaid card with a magnetic strip.
So what these guys did -- is they stole from.
Credit card processors.
The data for prepaid cards like -- And then -- were able to send that data to people who were part of the network in 26 countries worldwide they put the data on.
Any plastic card magnetic strip and then they went ATMs and they withdrew money instead several hours it to 45 million dollars in roughly two days worth of work.
Here's what the US attorney out of Brooklyn said about how easy this was to do.
And old credit card a hotel key card as long as they have those stolen account numbers and put them on a piece of plastic.
They'll be able to use -- in an ATM.
So eight people were arrested those of the -- -- they would take.
The hand made homemade whatever you want to call it credit card but it's not really credit card but any plastic with a magnetic strip.
Do -- to AT and -- New York got two point eight million dollars but in the 26 countries that this was involved and -- -- 45 million dollars -- calling it the largest crime of its kind.
It in this kind of crime may it's not the kind of thing where they -- in your individual bank account and took money.
This was actually involving two banks overseas.
And it was the data from their prepaid accounts that was stolen and then dispersed worldwide technology is is great for us -- -- pure test of facets I believe I've got a 45 million dollar subway card here hold on this thing I don't like.
Out right I say we go back to crayons and snail mail thank you very much.
Adam Shapiro the closing bell --
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