Friday, September 30, 2016
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
Amazon Offers $2.5 Million to Advance Conversational Artificial Intelligence
Raspberry Pi Upgraded With A Visual Overhaul Called Pixel
E FUN Nextbook Ares 11 2-in-1 Android Tablet Costs Just $179
Micron Opens Fab 10 Singapore NAND Flash Memory Fabrication Facility
Qualcomm in Talks to Buy NXP
Microsoft Creation New Artificial Intelligence and Research Group
Game of Thrones Enhanced Edition Comes To iBooks
Automakers Showcase Their Electric Vehicles At 2016 Paris Motor Show
Active Discussions
Which of these DVD media are the best, most durable?
How to back up a PS2 DL game
Copy a protected DVD?
roxio issues with xp pro
Help make DVDInfoPro better with dvdinfomantis!!!
menu making
Optiarc AD-7260S review
cdrw trouble
 Home > News > General Computing > Europol...
Last 7 Days News : SU MO TU WE TH FR SA All News

Wednesday, February 13, 2013
Europol, Spanish Police Dismantle Internet Fraud Network


Spanish Police, working closely with the European Cybercrime Centre (EC3) at Europol, have dismantled the largest and most complex cybercrime network dedicated to spreading police ransomware.

Europol estimates that the criminals affected tens of thousands of computers worldwide, bringing in profits in excess of one million euros per year.

"Operation Ransom" resulted in 11 arrests ? the first was a 27-year-old Russian, responsible for the creation, development and international distribution of the various versions of the malware. Furthermore, one of the criminal network?s largest financial cells in the Costa del Sol was dismantled. Spanish Police also arrested another 10 individuals linked to the financial cell: six Russians, two Ukrainians and two Georgians.

Six premises were searched in the province of Malaga, where IT equipment used for the criminal activities was confiscated. In addition, investigators seized credit cards used to cash out the money that victims paid via Ukash, Paysafecard and MoneyPak vouchers, as well as around 200 credit cards which were used to withdraw €26 000 in cash prior to the arrests.

The financial cell of the network specialised in laundering the proceeds of their crimes, obtained in the form of electronic money. For this, the gang employed both virtual systems for money laundering and other traditional systems using various online gaming portals, electronic payment gateways or virtual coins. They also used compromised credit cards to extract cash from the accounts of ransomware victims via ATMs in Spain. As a final step, daily international money transfers through currency exchanges and call centres ensured the funds arrived at their final destination in Russia.

Police ransomware is a type of malware that blocks the computer, accusing the victims of having visited illegal websites containing child abuse material or file sharing, and requests the payment of fine to unblock it. By dressing the ransomware up to look as if it comes from a law enforcement agency, cybercriminals convince the victim to pay the 'fine' of €100 through two types of payment gateways - virtual and anonymous - as a penalty for the alleged offence. The criminals then go on to steal data and information from the victim?s computer. Since the virus was detected in May 2011, there have been more than 1200 reported cases just in Spain, and the number of victims could be much higher.


Previous
Next
Analyst Says Apple Will Release TV This Fall        All News        Pioneer To Cut 800 Jobs
Google Updates Now     General Computing News      Comcast to Buy General Electric's Ownership Interest in NBCUniversal

Get RSS feed Easy Print E-Mail this Message

Related News
Europol Says Ransomware Is A Top Cybercrime Threat
NEC Uses Artificial Intelligence to Automatically Detect Unknown Cyber-attacks
Fujitsu Technology Analyzes Cyber Attacks
Hackers Attacked Vodafone
Police Arrest Teenagers Over TalkTalk Hack
TalkTalk Provides Update On Recent Cyber Attack
Cyber Attack Against UK's TalkTalk Could Affect Millions Britons
Chinese-affiliated Intrusions into Companies Continued Even After Cyber Pack
F-Secure Identifies Malware Family Linked To Russian State-backed Cyber-espionage
Europol Arrested Group Of Cyber-fraudsters
Cyber Attack hits Millions of U.S. Federal Workers
Adobe And Windows Zero-Day Exploits Likely Leveraged by Russians In Highly-Targeted Attack

Most Popular News
 
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2016 - All rights reserved -
Privacy policy - Contact Us .