Dear Visitor,

Our system has found that you are using an ad-blocking browser add-on.

We just wanted to let you know that our site content is, of course, available to you absolutely free of charge.

Our ads are the only way we have to be able to bring you the latest high-quality content, which is written by professional journalists, with the help of editors, graphic designers, and our site production and I.T. staff, as well as many other talented people who work around the clock for this site.

So, we ask you to add this site to your Ad Blocker’s "white list" or to simply disable your Ad Blocker while visiting this site.

Continue on this site freely
  HOME     MENU     SEARCH     NEWSLETTER    
THE ENTERPRISE SECURITY SUPERSITE. UPDATED 8 MINUTES AGO.
You are here: Home / Cybercrime / Cybercrime Gang Broken Up in Spain
Cybercrime Gang Broken Up in Spain, Mastermind Arrested
Cybercrime Gang Broken Up in Spain, Mastermind Arrested
Like this on Facebook Tweet this Link thison Linkedin Link this on Google Plus
PUBLISHED:
MARCH
26
2018
Police in Spain have captured a cybercrime gang made up of Ukrainians and Russians that allegedly stole more than 1 billion euros ($1.24 billion) from financial institutions worldwide in a five-year spree, authorities said Monday.

The gang's alleged mastermind, identified as a Ukrainian and named only as "Denis K.," was arrested in the coastal city of Alicante, 350 kilometers (220 miles) southeast of Madrid, according to statements issued by Spanish police and European Union law enforcement agency Europol.

Three suspected accomplices, said to be Russian and Ukrainian, were also arrested. Authorities didn't say when the arrests took place.

The gang used malware to target more than 100 financial institutions worldwide, sometimes stealing up to 10 million euros in each heist. Almost all of Russia's banks were targeted, and about 50 of them lost money in the attacks, authorities said.

The gang sent phishing emails with a malicious attachment to bank workers, Europol said. The software gave the gang remote control of infected machines, providing them with access to the internal banking network and infecting servers controlling ATMs.

ATMs were instructed to dispense cash at a pre-determined time, and the money was collected by organized crime groups supporting the main gang.

The gang converted its illicit gains into bitcoins and used the cryptocurrency to purchase assets, including houses and vehicles, in Spain.

© 2018 Associated Press under contract with NewsEdge/Acquire Media. All rights reserved.

Image credit: iStock.

Tell Us What You Think
Comment:

Name:

Like Us on FacebookFollow Us on Twitter
MORE IN CYBERCRIME
ENTERPRISE SECURITY TODAY
NEWSFACTOR NETWORK SITES
NEWSFACTOR SERVICES
© Copyright 2018 NewsFactor Network. All rights reserved. Member of Accuserve Ad Network.