Banking

Experts Marvel At How Cyber Thieves Stole $45 Million

Scott Neuman — Sat, 11 May 2013 15:41:00 +0000

With a haul of $45 million, it's being billed as possibly the biggest cyber-heist in history.

Cyber Criminals Drain $45 Million From ATMs Around The World

Joel Rose — Fri, 10 May 2013 09:45:00 +0000

Transcript

DAVID GREENE, HOST:

All right, prosecutors are calling it the biggest bank heist in New York City since the 1970s. They say a gang of cybercriminals drained $45 million from ATMs around the world.

Here's NPR's Joel Rose.

JOEL ROSE, BYLINE: United States Attorney Loretta Lynch says the eight men charged in New York were able to withdraw $2.8 million in cash in just one day, in February.

LORETTA LYNCH: This was a 21st century bank heist.

Peers Find Less Pressure Borrowing From Each Other

Wendy Kaufman — Fri, 10 May 2013 07:17:00 +0000

The Internet has managed to disrupt many industries, from publishing to music. So why not lending?

Google is teaming up with the nation's largest peer-to-peer lender. The search and tech giant is investing $125 million in Lending Club, which gets borrowers and lenders together outside the conventional banking system. Google's move and the actions of other big players reflect a growing interest in peer-to-peer lending.

Chanda Lugere works for a bank, but when she wanted a loan to consolidate her credit card debt, which carried a high interest rate, the bank didn't have much to offer.

Why (Almost) No One In Myanmar Wanted My Money

Robert Smith — Fri, 10 May 2013 07:12:00 +0000

When you arrive in Myanmar, you can see how eager the people are to do business. At the airport in Yangon, new signs in English welcome tourists. A guy in a booth offers to rent me a local cellphone — and he's glad to take U.S. dollars. But when I pull out my money, he shakes his head.

"I'm sorry," he says.

He points to the crease mark in the middle of the $20 bill.

Feds Charge Alleged New York Cell In International Cyber Heist

Scott Neuman — Thu, 09 May 2013 18:28:00 +0000

Eight people in New York have been charged as part of what prosecutors say was a global ring of cybercriminals who stole $45 million by hacking into prepaid credit card accounts and then using the data to get cash from thousands of ATMs around the world.

U.S. Attorney for the Eastern District of New York Loretta Lynch described the alleged scheme as "a massive 21st century bank heist that reached across the Internet and stretched around the globe.