Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Two indicted for skimming four CUs affected
FAYETTEVILLE, N.C. (4/25/11)--Two Russian immigrants were indicted Tuesday on charges of using skimming devices at three ATMs in Fayetteville, N.C., to steal data from debit and credit cards used at the machines. More than 60 people were affected. Four credit unions are among the seven financial institutions that lost funds. Sergei Fowler Marchant, 23, and Nikolay Andreyevich Volosov, 25, were indicted in a federal court in Fayetteville on charges of conspiracy to commit bank fraud and aggravated identity theft (Fayette Observer via fayobserver.com April 22). Skimmers are electronic devices that record information stored on the magnetic stripe of a credit or debit card. The two men also are accused of installing camera to capture personal identification numbers. They allegedly used the stolen data to create counterfeit credit and debit cards, which were then used to make withdrawals from financial institutions in the area. The crimes occurred between May 1, 2009, and July 31, 2009. Among the credit unions affected: Fort Bragg, FCU, Pentagon FCU, State Employees' CU, and FAA CU. Also targeted were Bank of America, JP Morgan Chase and Wachovia banks. Marchant and Volosov are each charged with six counts of card theft with a scanning device, financial card forgery and identity theft, as well as three counts each of financial card fraud and two counts of misdemeanor financial card fraud, said the newspaper.


RSS print
News Now LiveWire
.@BelvoirFederal revamped the checking acct. it offers to active duty military members and achieved 23% growth on the product in 1 mo.
12 hours ago
.@FinancialCmte markup of Reg D Study Act set for Tuesday. CUNA will submit support letter. http://t.co/cDWkZ0Q0x1
16 hours ago
The 54th Western CUNA Management School graduated 89 students on July 25.
16 hours ago
.@CUNA Bank Secrecy Act training to reach 38 Mich. state examiners #NewsNow http://t.co/7HDPgwih8G
18 hours ago
St. Louis treasurer taps #creditunion to serve unbanked #NewsNow http://t.co/lWtcezJOej
7 25 ago