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Complete Story
07/14/2021
Spike in “Chain Gang” Destructive Attacks on ATMs
Krebs on Security
Last summer, financial institutions throughout Texas started reporting a sudden increase in attacks involving well-orchestrated teams that would show up at night, use stolen trucks and heavy chains to rip Automated Teller Machines (ATMs) out of their foundations, and make off with the cash boxes inside. Now it appears the crime — known variously as “ATM smash-and-grab” or “chain gang” attacks — is rapidly increasing in other states.
The Texas Bankers Association documented at least 139 chain gang attacks against Texas financial institutions in the year ending November 2020. The association says organized crime is the main source of the destructive activity, and that Houston-based FBI officials have made more than 50 arrests and are actively tracking about 250 individuals suspected of being part of these criminal rings.
From surveillance camera footage examined by fraud investigators, the perpetrators have followed the same playbook in each incident. The bad guys show up in the early morning hours with a truck or tractor that’s been stolen from a local construction site.
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