North Florida credit unions said Wednesday they are helping the U.S. Secret Service and police in Jacksonville crack down on an ATM fraud, which has run up$300,000 in CU losses over an 18-month period.
At least 15 gang members-who took part in acquiring stolen cards and depositing bad checks into ATMs to later make withdrawals or purchases before the checks were returned-were arrested.
"We now know that this is part of a national crime syndicate scheme, and we are at least fortunate our fraud team helped detect the transactions," said Terry West, president/CEO of the $3.5 billion Vystar CU, one of the allegedly victimized CUs. He said discussions have begun with the CU's insurer "so we can make the claims."
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