Latvian man jailed for five years in Taiwan over $2.6m ATM hack

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A Latvian man has been jailed for five years over a cyber robbery of $2.6m (€2.3m) from automatic teller machines. 

Andrejs Peregudovs, together with Mihail Colibaba from Romania and Niklae Penkov from Moldova were convicted by a Taipei court for causing damage to the public by breaching computer security, reported the BBC.

They were accused of targeting ATMs of Taiwan's First Bank, using malware to withdraw money from dozens of ATMs on July 9 and 10 last year.

Prosecutors had sought 12-year jail terms, saying the actions "seriously disrupted financial order and caused public panic".

Another 19 suspects, including one French national and one Australian, are believed to have fled Taiwan.

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