• Lockcode Cyber

20 HACKERS ARRESTED IN EUR 1 MILLION BANKING PHISHING SCAM



A two-year long cybercrime investigation between the Romanian National Police and the Italian National Police, with the support of Europol, its Joint Cybercrime Action Taskforce (J-CAT) and Eurojust, has led to the arrest of 20 suspects in a series of coordinated raids on 28 March.

9 individuals in Romania and 11 in Italy remain in custody over a banking fraud netted EUR 1 million from hundreds of customers of 2 major banking institutions.

The Romanian authorities have conducted 3 house searches, while the Italian National Police ordered the execution of 10 home and computer searches, involving more than 100 Italian policemen.

The organised crime group (OCG), comprised essentially of Italian nationals, used spear phishing emails impersonating tax authorities to harvest the online banking credentials of their victims.

While the most common phishing scams blast out millions of generic e-mails, spear phishing emails are personally addressed to targeted stakeholders with content to make it appear from a reputable source, such as a bank.

Recipients are encouraged to click on a link, which will lead to a fake version of a legitimate website where their account or contact details can be stolen.

#BankingFraud #Europol #Cybercrime #Investigation #Phishing #OnlineBanking #OCG

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