BROOKLYN, NY – Ercan Findikoglu, a Turkish citizen known online as “Segate,” “Predator,” and “Oreon,” will spend the next eight years behind bars for orchestrating a trio of devastating cyberattacks that drained over $55 million from the global financial system. The sentencing, handed down today at Brooklyn Federal Court, concludes a case that exposed the vulnerability of international banking networks.
Findikoglu, 40s (age not released), pleaded guilty in March 2016 to conspiracy to commit computer intrusion, conspiracy to commit access device fraud, and transactions using unauthorized access devices. Prosecutors detailed how Findikoglu and his network didn’t just hack systems – they *manipulated* them, elevating their own privileges within victim companies to eliminate withdrawal limits on prepaid debit cards. This allowed his crews to systematically bleed accounts dry.
The attacks, dubbed “unlimited operations,” unfolded between 2011 and 2013. The first, in February 2011, saw roughly $10 million siphoned through 15,000 fraudulent ATM withdrawals across 18 countries. The second, in December 2012, netted around $5 million via 5,000 fraudulent transactions in 20 nations. The brazenness of the operation was particularly stark in New York City, where cashers racked up nearly $400,000 in losses at over 140 different ATMs in just two and a half hours.
A third, February 2013 operation continued the pattern of exploitation. The scheme relied on stolen card numbers and PINs, encoded onto magnetic stripe cards and distributed to “cashing crews” deployed globally. These crews weren’t just hitting a few ATMs; they were conducting mass withdrawals, exploiting the manipulated systems to their fullest extent. Judge Kiyo A. Matsumoto didn’t just hand down the sentence; she also ordered Findikoglu to pay $55,080,226.14 in restitution – a tall order for a convicted cybercriminal.
“Findikoglu was a skilled hacker who chose to use his considerable computer talents for criminal financial gain and to wreak economic havoc,” stated U.S. Attorney Robert L. Capers. He specifically praised the U.S. Secret Service for their “extraordinary efforts” in untangling the complex network intrusions. Special Agent in Charge David Beach of the Secret Service’s New York Field Office added that the sentencing “brings one of the world’s most prolific cyber-criminals to justice,” highlighting the success of international cooperation in safeguarding financial infrastructure.
While Findikoglu is now neutralized, the case serves as a stark reminder: the financial system remains a prime target for sophisticated cybercriminals. The Secret Service and its partners are constantly battling a relentless tide of attacks, and this conviction, while significant, is just one skirmish in an ongoing war. The scale of the fraud underscores the need for continued vigilance and investment in cybersecurity measures across the financial sector.
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Key Facts
- Agency: U.S. Secret Service
- Category: Fraud & Financial Crimes
- Source: Official Press Release
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