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The 8 Steps Behind The Massive $45M Cyber Bank Heist

More than $45 million was stolen from banks in the U.S. and 19 other countries in a scheme that law enforcement is calling an international conspiracy to drain millions from bank accounts using stolen debit cards and PIN numbers. Here's how they did it.

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1. Credit Card Processor Data Breach

Cybercriminals first targeted an Indian credit card processor that handles Visa and MasterCard prepaid debit cards. The attack was being directed by an extensive cybercriminal network based in St. Petersburg, Russia. The attack took place in December, and investigators believe it was an extensive network intrusion, giving cybercriminals access to the data contained on the magnetic strip of the card and the PIN number associated with RAKBank, located in the United Arab Emirates.

 
 
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