MADRID, Spain—As fraudsters ramp up their skimming attacks, police in Europe may have slowed their efforts.
European police have dismantled a cross-border gang that has stolen at least $560,000 from at least 3,000 individuals via ATM skimming, BankInfoSecurity.com reported.
The gang has been operating since 2014, installing card-skimming devices on about 400 ATMs per year, according to BankInfoSecurity.com.
"The forged cards were then used to make illegal transactions in 200 ATMs outside the European Union, mainly in the USA, the Dominican Republic, Malaysia, Indonesia, Vietnam, Peru the Philippines and Costa Rica," stated Europe's law enforcement intelligence agency, Europol, noting that at least 3,000 European citizens were affected by the criminal network.
In an effort to break up the criminal operation, Europol said 31 suspects have been arrested – 21 in Spain, nine in Bulgaria and one in the Czech Republic, BankInfoSecurity.com reported.