The arrests come amid a wave of debit card fraud resulting from a security breach involving a still undisclosed U.S. retailer or retailers. The fraud resulting from the breach has so far forced many major banks, including Bank of America Corp., Wells Fargo Bank and Washington Mutual Bank -- as well as numerous credit unions around the country -- to block transactions and reissue over 1 million cards.

Many of the compromised debit cards were being used fraudulently in several countries, including Romania, Russia, Spain and the U.K.