9 Scammers Busted for 5M Euro Phishing Fraud Ring

1 year ago AndyC

Nine
suspects
have
been
arrested
—
eight
in
Madrid
and
one
in
Miami
—
for
their
suspected
participation
in
a
cybercriminal
organization
accused
of
stealing
more
than
5
million
euros
from
unsuspecti

The
joint
operation
between
the
Spanish
National
Police
and
the
US
Secret
Service
traced
the
group’s
activities
to
more
than
100
bank
accounts
created
to
collect
stolen
money,
which
they
would
then
withdraw
at
cash
machines,
transfer
abroad,
or
convert
into
cryptocurrency,
the
Spanish
National
Police
said
in
an
announcement
of
the

takedown.

The
ring
targeted
American
people
and
companies
with
social
engineering

phishing
emails
and
SMS
text
messages
to
gather
sensitive
data,
then
followed
up
with
so-called
“vishing”
phone
calls
to
collect
the
remaining
information
required
to
defraud
victims.

The
authorities
of
Panama,
Spain,
and
the
US
seized
assets
belonging
to
the
accused
cybercriminals,
including
assets
of
more
than
a
half-million
euros
and
expensive
watches
estimated
to
be
worth
about
200,000
euros.

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About Author

AndyC

Andy Curtis is an award-winning security consultant, researcher and public speaker. He has been working in the computer security industry since the early 1990s, having been employed by state and federal government, leading healthcare and banking providers across three continents. He has given talks about computer security for some of the world’s largest companies, worked with law enforcement agencies on investigations into hacking groups, and is a regular voice on TV and radio explaining IT security threats.

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