25 cybercriminals arrested by Romanian police for stealing $15 million from the banks

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It is truly stunning news from the cluster of the cyber world. Romanian police who have been investigating the bank robbery from a long time, they have now solved the case by arresting 25 cyber criminals.

As indicated by the sources, the cyber criminal have stolen more than €13.8 / $15 million by credit cards cloning.

The Romanian Directorate for Investigating Organized Crime and Terrorism (DIICOT) raided in 42 areas in 6 nations on Sunday. They arrested 25 people who are suspected to be a part of 52 member international cyber gang. The raid was not only held in Romania as well as in different parts of the world.

The authorities reported that, these cyber criminals could have hacked the banks computer systems to clone the ATM cards and afterward utilized them to take $15 million.

The banks that were hacked to clone the cards are from US and Muscat (capital of Oman). The crooks successfully extracted the credentials, by targeting the large banking organizations and made fraudulent cards. These fraudulent cards were distributed across the cyber gang members. And, they further withdrew cash from ATMs by utilizing these cards.

According to Romanian Authorities, It seems that it was a well-planned process of the cyber gang to withdraw a large amount of money from different locations across the globe.

Supposedly on 20th Feb 2013, $9 million/ €8.3 million were withdrawn from the ATMs across Japan by these offenders. Similarly on 2nd Dec 2013, the gang hit almost 4,200 transactions that totaled to $5 million/ €4.6 million in cash from ATMs across 15 Romanian cities. This clearly indicates that within a year the gang made almost 34,000 ATM transactions in 24 countries.

Romanian DIICOT (Govt. Investigating Agency) reported, “The gang has implemented fraud in many countries including US, UK, Germany, Italy, Spain, Netherlands, Canada, Colombia, Dominican Republic, Mexico, Indonesia, Egypt, Malaysia, India, Russia, Sri Lanka, Thailand, Ukraine, the United Arab Emirates, Pakistan, and Latvia.”

On Sunday, the police raided on 42 houses in 4 cities. In the raid, the police seized 16 laptops and phones that were utilized for performing a criminal action. 2 kg of gold bars and €150,000/ $163,000 cash was also seized by the police authorities.

According to DIICOT, it can be assumed that the money has been invested in the valuable goods, and they will stay seized till the investigation.

It is not the first occasion when this sort of cyber activity has occurred. Prior to this, a gang named as “carbanak” also implemented such scam and stole $1 billion from the 25 nations of the world.

According to Kaspersky’s report in February regarding carbanak, the cyber criminal utilized spear phishing technique for sending emails to the bank’s network along with the malicious attachment. Malicious attachment installed malware into the one of the employee’s computer. And, it was able to record the video of withdrawal procedure of the bank. As withdrawal method is diversified for every bank, criminals carefully learned the procedure and then attacked the bank networks.

Image Source: Kaspersky Labs

Image Source: Kaspersky Labs


Image Source: Kaspersky Labs

Now the question arises. When will the cyber criminals quit executing the cyber criminal activities?

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