Europol and Eurojust in massive joint operation against cybercriminals

The police has captured lots of suspects in a global investigation into a cybercrime group that tapped millions of Euros from targets’ accounts in an identity theft scam.

Tripwire reported that, 49 suspects were arrested by Europol European Cybercrime Center in a combined worldwide investigation targeting the shutdown of a main cybercrime ring. The group of investigators stated to have their associates across UK, Italy, Poland, Spain, Belgium and Georgia.

The arrests are supposed to have hacked email accounts of corporate sector to commit monetary scam worth almost €6 million, diverting money from company clients.

As per V3 notes, Europol (EU police agency) helped investigators to search 58 properties during the operation held on Tuesday. Eurojust (EU justice agency) said that investigations exposed that cybercriminals had deceived targets of $6.8 million and took them out to Europe.

The operation was synchronized in alliance with Eurojust, which stated the suspects are proof of how many European Union agencies can bring awesome results by working as a team.

The hacking scam involved stealing information just like passwords and usernames, in a procedure named as phishing, and the hackers diverted finance from high-profile companies’ customers.

Although Europol has recognized the fraud as a well-known cyberattack dubbed as man in the middle, containing frequent computer interruptions via malware, social engineering and hacking.

Europol said in a press release, “Once access to companies’ corporate email accounts was secured, the offenders monitored communications to detect payment requests. The company’s customers were then requested by the cybercriminals to send their payments to bank accounts controlled by the criminal group. These payments were immediately cashed out through different means.”

Eurojust stated, “Yesterday’s action against cybercriminals yielded excellent operational results and demonstrated that several EU bodies and national authorities, joining forces, can together successfully combat one of the most difficult-to-detect forms of modern criminality.”

In the beginning of year 2014, Europol achieved to effectively turn off the botnet named Ramnit, which was attacked on almost 3.2 million personal computers, WeLiveSecurity reported it.

Top/Featured Image: By Lietmotiv / Wikipedia

Ali Raza Ali is a freelance journalist, having 5 years of experience in web journalism and marketing. He contributes to various online publications. With a Master degree, now he combines his passions for writing about internet security and technology for SecurityGladiators. When he is not working, he loves traveling and playing games.
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