ATM gang busted!

Regardless of all the improved security features that banks and other payment processors are introducing to protect their customers, ID theft continues to flourish. Florida police has arrested an ATM theft group that has been altering Florida's automatic teller machines. The thieves, 4 Bulgarian nationals are charged with credit card fraud and identity fraud.

According to Miami Beach police, the thieves concealed electronic devices in order to read and record credit card and PIN information. When ATM customers used their plastic cards, the special equipment planted inside the ATM acquired card ID information while a small camera that was built in the speaker taped personal pin numbers. Later the information pieces were matched to complete the stolen card profile.   

"If you look at this device, it is the actual camera," police said. "These are holes in the actual ATM speakers system. Bank accounts have been electronically looted like this, and $2 million has been lost over the last year or so". FBI is also investigating this case as possibly being related to similar ID theft in other US states.