14 DAY TRIAL // A Turkish national has been sent from Germany to face criminal charges relating to a series of carefully orchestrated ATM fraud operations deployed in 24 countries in less than a day, causing tens of millions of dollars in losses.
After spending five years in a German prison fighting extradition to the US, 33-years-old Ercan Findikoglu flown on Tuesday to New York, according to Bloomberg, where he faces charges that amount to a maximum of 247.5 years in prison.
Millions of dollars stolen in blitz ATM transactions
In a document from German authorities (German) regarding the defendant’s extradition, it is explained that the US indictment on Findikoglu refers to hacking into the computer networks of at least three financial institutions in the US and other regions and changed the ATM withdrawal limit for credit cards to permit dispensing of large amounts of cash in one operation.
The deeds were allegedly carried out from January 2010 through July 25, 2013, although it is believed that the operations date as far back as 2008. Findikoglu was arrested in Frankfurt in December 2013.
The German document informs that in late February 2011, the defendant organized illegal cash withdrawals in 18 countries, totaling 15,000 transactions and stealing $14 / €12.5 million.
A larger heist took place in February 2013, when it is alleged that Findikoglu set the ground for emptying 12 bank accounts of $40 / €35.7 million in 5,700 transactions.
In total, it is believed that the network of individuals coordinated by the defendant managed to steal no less than $60 / €53.6 million, a large part of the money ending up in Findikoglu’s pocket. Heists would generally take less than a day.
Defendant faces 18 charges in the US
At the time of the heists, the hacker was regarded as the most wanted computer hacker in the world. He is now facing 18 charges in the US, with maximum prison terms ranging from 5 years to 30 years.
It is unlikely that Findikoglu will receive the maximum penalties, especially since his extradition has been delayed because of the prison time he would risk in the US. According to German criminal law, property crimes are punishable with up to 15 years in prison.