Europol Tackles Cybercrime Ring

1-eupoliceagen.jpg

Employees of Europol's Cybercrime Center EC3

Europol has cracked down on a cybercrime ring believed to have developed and distributed malware designed to steal valuable financial information.
Announced last week, Europol's latest cybercrime sting, conducted with the help of partners in Estonia, Latvia, Germany, Moldova, Poland, Ukraine and the US, resulted in the arrest of five suspects stemming from eight house searches and the seizure of computer equipment in multiple cities across Ukraine.
The joint operation, between Europol and Eurojust, focused on arresting suspects believes to have developed, exploited and distributed ZeuS and SpyEye malware. These two malware families are well known banking Trojans used by botnets and phishing campaigns worldwide.
"The cybercriminals used malware to attack online banking systems in Europe and beyond, adapting their sophisticated banking Trojans over time to defeat the security measures implemented by the banks. Each cybercriminal had their specialty and the group was involved in creating malware, infecting machines, harvesting bank credentials and laundering the money through so-called money mule networks," Europol says.
In addition, underground forums were used to trade stolen credentials, compromised bank account information and malware, and the group also sold their own hacking services and looked for new partners in cybercrime.
Europol says the cybercrime ring was "extremely" active and has infected tens of thousands of PCs -- as well subsequently targeting major banks. The damage caused by the cybercrime ring is believed to be at the €2m mark.
On 18 and 19 June, law enforcement arrested the suspects as part of a long-running investigation revolving around cybercrime in Europe, which was launched in 2013 by JIT members (Austria, Belgium, Finland, the Netherlands, Norway and the United Kingdom) to take down cybercriminals.
The total number of cybercriminals now arrested has reached 60, and JIT says the group has enjoyed "significant operational successes." The organization has collected terabytes of data as part of the investigation, which will now be used to track down other suspects.
Rob Wainwright, Director of Europol commented:
"In one of the most significant operations coordinated by the agency in recent years Europol worked with an international team of investigators to bring down a very destructive cybercriminal group. 

With our international partners, we are committed to fighting the threats brought about by malware and other forms of cybercrime, to realise safer technology infrastructures and online financial transactions for businesses and people the world over."
Earlier this year Europol took down the Beebone botnet, which is estimated to have infected over 12,000 computers with banking-based Trojans and additional malware. The organization used a technique called "sinkholing" to disrupt the botnet -- in other words, the team registered, suspended and seized domain names linking the command-and-control (C&C) center's communication channels to victim PCs. Europol called the botnet a "sophisticated" example due to its daily updates and software insurance policies against removal.
ZD Net:  http://zd.net/1GR6AL2

« Cyberwars Between Nations Are Difficult to Prove
Court Briefly Returns NSA Surveillance Program »

CyberSecurity Jobsite
Perimeter 81

Directory of Suppliers

Resecurity, Inc.

Resecurity, Inc.

Resecurity is a cybersecurity company that delivers a unified platform for endpoint protection, risk management, and cyber threat intelligence.

IT Governance

IT Governance

IT Governance is a leading global provider of information security solutions. Download our free guide and find out how ISO 27001 can help protect your organisation's information.

ON-DEMAND WEBINAR: What Is A Next-Generation Firewall (and why does it matter)?

ON-DEMAND WEBINAR: What Is A Next-Generation Firewall (and why does it matter)?

Watch this webinar to hear security experts from Amazon Web Services (AWS) and SANS break down the myths and realities of what an NGFW is, how to use one, and what it can do for your security posture.

Authentic8

Authentic8

Authentic8 transforms how organizations secure and control the use of the web with Silo, its patented cloud browser.

Syxsense

Syxsense

Syxsense brings together endpoint management and security for greater efficiency and collaboration between IT management and security teams.

Teneo

Teneo

Teneo is a Solutions Provider focused on reducing complexity. We combine leading technology with deep expertise to create new ideas on how to simplify IT operations.

Airbus Cybersecurity

Airbus Cybersecurity

Airbus CyberSecurity is a European specialist in cyber security. Our mission is to protect governments, military and critical national infrastructure enterprises from cyber threats.

Dragos

Dragos

Dragos has built the first industrial cybersecurity ecosystem, the ultimate security defense.

LATRO Services

LATRO Services

LATRO Services is a complete solution provider to discover, locate, and eliminate telecom fraud.

Checksum Consultancy

Checksum Consultancy

Checksum Consultancy specializes in Information security, Risk management, and IT governance.

Penacity

Penacity

Penacity, LLC provides strategic consulting technology services and Information Security Services to commercial and government organizations.

Brimondo

Brimondo

At Brimondo we help you to maximize and protect your brand value by being a proactive and strategic partner within brand protection with experts within intellectual property and digital assets.

Nettoken

Nettoken

Nettoken is the first identity management platform designed for everyday internet users, to encourage awareness and control of our ever expanding digital footprint and personal cybersecurity.

Code Intelligence

Code Intelligence

Code Intelligence offers a platform for automated software security testing to help developers make their software more robust and secure.

IronClad Encryption (ICE)

IronClad Encryption (ICE)

Ironclad Encryption is Dynamic Encryption. The encryption sequence changes continuously so there is never a correlation between data sent and data received.

Syracom

Syracom

syracom is a consultancy firm specialized in development of efficient business processes. With our expertise and IT competence, we develop tailored solutions for customers in various industries.

Matrixforce

Matrixforce

Matrixforce is a vetted IT support provider that uses the patented Delta Method of streamlining technology for financial and professional service firms to reduce complexity and avoid risk.

Strac

Strac

Eliminate Personal Data Risks from your business. Our Dataless SaaS removes the need to manage sensitive data across web, mobile apps, servers and communication channels.

M.Tech

M.Tech

M.Tech is a leading cyber security and network performance solutions provider. We work with leading vendors to bring optimal solutions to the market through a channel of reseller partners.

Scality

Scality

Scality storage unifies data management from edge to core to cloud. Our market-leading file and object storage software protects data on-premises and in hybrid and multi-cloud environments.

Pulsar Security

Pulsar Security

Pulsar Security is a team of highly skilled, offensive cybersecurity professionals with the industry's most esteemed credentials and advanced real-world experience.