Bulgarian National Arrested in Bangkok for Suspected ATM Tampering

Bangkok – A 50-year-old Bulgarian national named Ivan Valchev has been detained by the police in Bangkok on the charge of puting skimming devices on various ATMs in the city and its suburbs. The arrest was revealed Wednesday by the Cyber Crime Investigation Division 2.

Valchev was arrested on Tuesday at a posh house in the Pak Kret district in Nonthaburi pursuant to the arrest warrant issued by the Criminal Court on May 26.

The data cables in 13 ATMs were replaced by Valchev with modified cables fitted with SIM cards, according to division superintendent Police Major General Siriwat Deepor.

These modified cables were allegedly used to ‘jackpot network’ the banking systems. The computer virus – which made the cashpoints stop working – meant customers were unable to take-out cash.

They suspect that this high-tech approach to tampering with the machines presented a serious risk to the financial security of ATM customers. The tweaked cables could also have been used to skim some sensitive banking data, the thieves apparently reasoning that the victims wouldn’t know where the lighter wallets had gone to.

Police said their investigation began after a not-identified financial institution lodged a complaint in March. Video surveillance helped with the identification, reports said.

The clips purportedly revealed men, posing as ATM mechanics, who had used what looked like the master key to access the machines and change the data cables. By going through city’s surveillance system the police had identified a white Honda City car which was used by the suspects for commuting from one bank to other.

After Valchev’s arrest modified cables and other equipment suspected of being used in the purported tampering attack were recovered by police. No amount of money stolen in the scheme was given, and the NYPD is currently investigating the incident and trying to determine the extent of its damage as well as uncover any co-conspirators.

Valchev has also reportedly refuted the allegations against him, admitting to the equipment belonging to him, however, insisting that all he did was open the ATMs. Policemen are now carrying out investigations and expected to file a case against the suspect. This event should be a wake-up call as to the changing landscape in the world of cyber crimes and ensure we maintain a state of alert at all time to protect our financial systems.