Three suspects arrested for stealing cash from ATM's | News
MEMPHIS, TN- (WMC-TV) - Three men arrested in Bartlett Friday are facing federal fraud charges. The Secret Service says the suspects could be part of an international scam that happened to make a stop in the Bluff City.
The magnetic strip on the back of your debit card is the key that opens the lock to your bank account.
"It's not the car itself, it's the information that's valuable," said Rick Harlow, of the Secret Service.
Harlow said that's what three of out of town crooks were counting on when they came to the Mid-South with stacks of cards freshly loaded with stolen information and collected cash from ATM machines across the area.
"We've been looking for them for the last several days," said Harlow. "The Bartlett Police Department saw them this morning, called us out, we went out and apprehended them."
When the suspects were taken into custody, they were carrying more than $10,000 in cash in addition to the cards.
Harlow said criminals can reload stolen information on the magnetic strip of any type of card by using an encoder machine that can be purchased online.
"It's a very portable device," Harlow said. "It's not a huge piece of machinery."
It's a fraud tactic commonly known as skimming.
Investigators want to know if the cards were made and how the crooks obtained stolen information that enabled them to collect someone else's money all over town.
The suspects will likely be charged and identified some time Saturday.
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