How were they able to do it? Outmoded U.S. card technology may be partly to blame, the officials said.
Seven people have been arrested in the U.S. in connection with the case, which prosecutors said involved thousands of thefts from ATMs using bogus magnetic swipe cards carrying information from Middle Eastern banks. The fraudsters moved with astounding speed to loot financial institutions around the world, U.S. Atty. Loretta Lynch, who works in New York, said Thursday.
She called it "a massive 21st century bank heist" carried out by brazen thieves in two separate strikes, one in December and the other in February.
One of the suspects was caught on surveillance cameras, his backpack increasingly loaded down with cash, authorities said. Others took photos of themselves with giant wads of bills as they made their way up and down Manhattan.