Police bust gang behind Australia's biggest credit card data theft

Australian Federal Police have busted on a Romanian hacking ring accused of being responsible for Australia's largest credit card fraud.

According to a report published on the Herald Sun, the syndicate is alleged to have stolen the banking details of half a million Australians and cashed out some $30 million in goods from 30,000 credit cards.

Photos: Check out how thieves steal your credit card data

At least 16 alleged members of the gang have been arrested in Romania by local authorities and the AFP in a joint operation that foiled what had the potential to be a $750 million fraud.

Secure Business Intelligence website has reported that police will allege that the gang operated by placing keylogger software on vulnerable point of sale systems and siphoning card data via the remote desktop protocol.

The AFP will hold a press conference in Canberra on the arrests.

Photos: The riskiest places to use your card