Amsterdam man allegedly stole €2 million in elaborate debit card fraud

Authorities have accused a 38-year-old Amsterdam man of using different scams to circumvent two banks’ security systems to steal over two million euros from over 30 customers at two different banks. The man was ultimately caught after the banks recorded conversations allegedly involving the suspect, and then using voice recognition to link him to the crimes.

The arrest actually happened on February 20. The man has been in custody ever since. He was only allowed to have contact with his attorney up u til Thursday, when prosecutors were allowed to reveal more information about the crime.

“The suspect allegedly pretended to be a customer of both banks and requested bank cards and PIN codes. He then intercepted those passes and codes by literally fishing them out of the mailboxes of customers, mainly companies,” the Public Prosecution Service (OM) said.

At one unidentified bank, he allegedly used a SIM Swap scam to take over victims’ phone numbers while blocking them from accessing the number. When the bank the called the phone, the Amsterdam man allegedly pretended to be the victim to activate the new debit card and gain access to the account.

The other bank did not require the suspect to be able to access the victims’ phone number, but he was required to answer security questions correctly to activate the card. He was then able to log into the accounts, which ultimately raised red flags at the bank suggesting computer fraud.

“Both banks recorded a number of telephone conversations, kept them and provided them to the police,” the OM said.