Two Charged in 2011 Cyber Breach at Michaels Retailer
Two men were criminally charged over their alleged roles in a conspiracy to steal 94,000 credit and debit card numbers from Michaels Stores Inc.
U.S. Attorney Paul Fishman in New Jersey said the conspirators captured customers' bank account information and personal identification numbers by installing devices on 88 point-of-sale terminals in 80 Michaels stores across 19 U.S. states.
They then produced counterfeit bank cards, and used them to withdraw more than $420,000 from automated teller machines, reported Business Insurance.
The scheme lasted from February to May 2011, when the two men possessed 179 counterfeit cards in New Jersey, and affected seven banks including Bank of America Corp., JPMorgan Chase & Co., Toronto-Dominion Bank and Wells Fargo & Co., reported Business Insurance.
The men were each charged with conspiracy to commit bank fraud, which carries a maximum 30-year prison term and $1 million fine, and aggravated identity theft, which carries a maximum two-year term to be served consecutively.