Malware gang busted by Euro law dream team

Law enforcement bodies in Europe have come down hard and arrested a number of cyber gang members.

Those targeted are accused of employing malware and social engineering to steal over £4m from several organisations.

The team of law enforcement bodies collaborated in  a worldwide investigation, which led to 49 suspected members of the gang being apprehended, as well as 58 properties searched. The team also captured forged documents, memory sticks, SIM cards, cash, credit cards, tablets, telephones, hard disks and laptops.

The joint operation occurred in the Netherlands at Europol’s coordination centre, EC3. Each law enforcement body provided ideas and information. Further, there were specialists from Europol who offered operational support in both Spain and Italy.

The gang is thought to have swiped €6m from several organisations in Europe within a short amount of time, and allegedly had active members throughout Georgia, Belgium, Poland, Spain and the UK.

Brian Honan, managing director for security expert firm BH Consulting, said to SCMagazineUK.com:

“Working together in a coordinated takedowns of criminal gangs will have bigger impacts than individual law enforcement agencies tackling cyber-criminals in their own jurisdiction.”

Honan, who is also a Europol advisor, commented:

“We have seen a number of our clients targeted in similar scams. It is a classic scam where criminals use corporate identity theft as a means to steal money from other companies.”

Organisations in the UK and Europe should be looking at their IT security recruitment policies, and asking themselves if they are really doing enough to defend against cyber crime.