Australian police swoop on suspected credit card ring

Police have swooped on a Romanian hacking ring accused of being behind Australia's largest credit card fraud.

The gang is alleged to have stolen half a million banking details and cashed out some $30 million in goods from 30,000 credit cards.

SC first reported the theft in August when it was then thought those responsible could inflict about $25 million in damages from half a million cards. Sixteen alleged members of the gang were arrested in Romania by local authorities and by Australian Federal Police (AFP). The gang is accused of stealing credit cards from 100 Australian small and medium-sized businesses.