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Cyber-fraud Gang Hacks into Barclay's Bank

An online bank-robbers gang has taken over the accounts of about ten people and stolen money to the tune of millions of pounds. The gang is being tracked by an anti-fraud cell.

Hundreds of thousands of dollars were stolen by cyber bank robbers, from at least ten online accounts, which also include $120,000 from a person's mortgage account.

Barclays intercepted the fraud and curbed at least a million dollars being laundered from clients, claimed officers of the Dedicated Cheque and Plastic Crime Unit, who suspect that there could be many more victims on the fraudster's list.

The hackers acquired enough personal information to persuade the bank that they were actual customers and then ordered a new credit or debit card having a new password, informed D.C. Harrington, a Detective Constable, as published by Earthtimes on October 29, 2007.

Harrington also revealed that the entire operation from beginning to end took only a few days and by the time anyone takes stock of things, the money would have reached the gang, who would had bought goods and sell them too by then.

The gang's preferred method is a procedure known as "account take over", in which the robbers accumulate sufficient private details to prove to a bank that they are genuine customers and then place order for a new card with a new PIN (Personal Identification Number).

Bob Whitaker, a victim, when returned home with his wife from a trip to Thailand, was shocked to find that a bunch of cyber criminals had bought jewellery worth £60,000 from a store in Barcelona by using a debit card in his name.

The hackers had broken into Mr Whitaker's online accounts of Barclay Bank and ordered electronics and jewellery. They also did some cash transfers. For accomplishing this, they hacked into his personal bank account and used private particulars to order new credit and debit cards. Then they rung-up the mortgage company providing sufficient information to persuade the staff and transferred £60,000 from Whitaker's mortgage reserve account to the current account, which they had taken over.

They used a technique referred as "social engineering", wherein the fraudster(s) ring(s) up the bank staff and pretend memory loss.

Related article: Cyber Child abuser Sentenced To Imprisonment

» SPAMfighter News - 21-11-2007

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