04 August 2015

Cybercrooks scent rich pickings from Sepa migration

23 November 2012  |  5561 views  |  0 Euro Coin on EU Flag

The migration of European banks and corporates to a Single Euro Payments Area (Sepa) is creating a rich new target for cybercrooks, says McAfee, which has identified a recent attempt to steal EUR61,000 from German banks.

The scammers use variations of the Zeus and SpyEye Trojans to infiltrate targeted corporate accounts with the specific goal of initiating Sepa Credit Transfers to mules across the EU

The malicious "webinjects" targetted two German banks with a specially crafted JavaScript payload deployed to about a dozen of their online banking customers which have Sepa as an option, says McAfee. The campaigns are hard to detect because they infect only a few dozen customers and take advantage of the automated channels developed by banks to distribute Sepa payments.

The system, which is being run out of Moscow, is hard-coded to allow up to a maximum of €100,000 for a single Sepa transaction and a minimum of €1,000.

"For one of the financial institutions targeted, we estimated from the log files we retrieved that €61,000 in attempted Sepa transactions were made to mule accounts," says McAfee. "Some of the accounts had more than €50,000 as the standing account balances."
KeywordsSEPA

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board, sign up now.

Related blogs

Create a blog about this story (membership required)

Related stories

09 November, 2012
24 October, 2012
04 October, 2012
26 June, 2012
14 May, 2012
29 March, 2012
27 March, 2012
21 March, 2012
14 February, 2012

Top topics

Most viewed Most shared
ING Bank introduces voice-activated mobile...
11388 views comments | 28 tweets | 33 linkedin
Will Uber be the Uber of banking?
9455 views comments | 41 tweets | 33 linkedin
MasterCard to connect Europe to Samsung Pa...
6929 views comments | 20 tweets | 16 linkedin
Deutsche Bank backs blockchain potential
6893 views comments | 32 tweets | 18 linkedin
Payments and capital markets sectors domin...
6834 views comments | 17 tweets | 19 linkedin

Featured job

up to £95K base, £190K OTE, benefits
London, UK

Find your next job