Turkish Hacker Guilty Over Cyber Stealing $55 Million

A Turkish hacker dubbed as the mastermind over stealing millions of dollars around the world has pleaded guilty in the federal court on Tuesday. Ercan Findikoglu was guilty of leading a scheme responsible for taking out a total of $55 million from automated teller machines worldwide.

Findikoglu was charged of computer intrusion conspiracy for heading a group that distributed stolen debit card information. The stolen data was then used for withdrawing money from people's debit cards from different countries.  As CNBC claims, the scheme is one of the most successful and coordinated bank heist in history.  In 2013, the Turkish hacker and his group withdrew $40 million from ATM machines in 24 countries in just 10 hours.

According to Daily Mail, the Turkish hacker, popular online as "Segate" and "Predator" was extradited from Germany in 2015 after he was apprehended in Dec. 2013. The ATM hacking happened from 2010 to 2013 after Findikoglu and other hackers were able to penetrate the networks of prepaid debit card payment processors. The Fidelity National Information Services Inc. ElectraCard Services is now acquired by MasterCard Inc. and enStage. The hackers manipulated the accounts of the debit card holders by increasing their balances to withdraw large sum of money.

The Turkish hacker and his group circulated the stolen debit card data to cashing crews whose task is to take out money from ATM all across the world. After that, Reuters reveals that Findikoglu and other high-ranking members of the scheme received wire transfers, personal deliveries in a form of cash and electronic currency. Their biggest operation targeted debit cards from Bank Muscat in Oman where the group was able to withdraw $40 million.  The prosecutors also claimed that they also received $10 million from cards issued by JPMorgan Chase & Co. It was the account used by the American Red Cross to help victims of natural disasters.

Apart from the Turkish hacker leader, 13 of the cashing crews had already pleaded guilty in the federal court.

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Turkish Hacker, Turkish Hacker pleaded guilty, Ercan Findikoglu, Ercan Findikoglu scheme, fraudulent ATM withdrawal

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