29 charged in 'card cracking' fraud scheme

CHICAGO (WLS) -- Federal prosecutors have charged 29 people in a fraud scheme known as "card cracking." Nineteen are behind bars.

The U.S. Attorney's office says suspects deposit bogus checks and then make quick ATM withdrawals or debit card purchases from legitimate accounts. The criminals frequently buy account numbers and PINs for up to $1000, often from students.

Authorities say the practice started on Chicago's South Side and has grown nationwide.

"It doesn't matter if you live over here and you commit your crimes over in Indiana or vice versa," says David Capp, U.S. Attorney for Northern Indiana. "We are working as a team and we are going to come get you."

The fraud has cost banks more than $1.7 million.