Finnish Police Bust Scammers of Nordea Bank and Conclude Investigation

On May 10, 2011, Finnish Police concluded an investigation following the busting of a cyber-criminals' group, which allegedly used malware for transferring huge sums of Euros that accounts in Nordea Bank held. The crime-gang has been arrested. Theregister.com reported this on May 10, 2011.

Reportedly, the criminals belonging to Finland and Estonia tried to siphon 1.2m euros via several fake transactions that numbered more than 100. State local reports that nearly 178,000 Euros are missing due to the scam.

Understandably, two criminals from the suspected group utilized malware for hacking into 89 Internet-banking consumers' accounts followed with local phishers looting those hijacked accounts thus leading to funds being illegally transferred to the scheme's perpetrators in Estonia.

Stated Chief Research Officer Mikko Hypponen of F-Secure, the assaults against Nordea Bank took place during early 2010. Theregister.com published this.

Hypponen further said that police had stopped conducting the investigation as of now and added that there wasn't a similar assault known after the Nordea incident. Softpedia.com reported this on May 10, 2011.

Hypponen outlined that using the Papras or what's Trojan Gozi, the criminals robbed the bank.

He also observed that among the 17 alleged criminals, most of the so-called phishing mules were let free on bail. However, police held the two alleged criminals both of whom belonged to Estonia on remand till they were to undergo a trial on the date still to be fixed.

Worryingly, the above assaults resembled too well those usually witnessed in UK and USA. A malware item contaminated PCs from where Internet-banking was conducted so that credentials could be seized for their subsequent utilization in illegitimate transfer of money to the phishers, say the security researchers.

Notably with money-mules, international transfers are avoided that are minutely examined compared to local transfers, particularly when the real accountholders didn't at all participate within such transactions.

Normally, money-mules retain certain portion of the fraudulently stolen funds as commission after which they wire-transfer the remaining through Western Union, alternatively other insignificantly traceable services.

Eventually, during September 2010, US officials accused 37 people thought to be helping Zeus scammers abroad for transferring funds overseas.

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» SPAMfighter News - 5/18/2011