26 July 2017
download the report now

Eurograbber PC-to-mobile virus loots EUR36 million from consumer accounts

05 December 2012  |  9111 views  |  0 Spiders computer virus

A sophisticated multi-stage virus attack that infected consumer PCs and mobile phones was used to steal over €36 million from 30,000 customers of 30 banks in Italy, Spain, Germany and Holland over summer 2012.

The theft used malware to target the PCs and mobile phones of banking customers. It also took advantage of the SMS messages used by banks to secure customers' account logins.

The attack targeted both corporate and private banking users, performing automatic transfers that varied from 500€ to 250,000€ each to intermediary accounts across Europe.

The 'Eurograbber' raid - which is believed to have emanated from cybercrime servers in the Ukraine - was picked up by tech security firms Check Point and Versafe. The initial payload of the Zeus Trojan corrupted consumer PCs, intercepting online banking transactions and duping users into handing over their mobile phone number. The mobile Trojan worked on both Blackberry and Android devices, giving attackers a wider reach.

With victims' PCs and mobile devices compromised, the scammers could intercept and hijack all the victims' banking transactions, including the bank's SMS to the customer containing the 'transaction authentication number' (TAN). With the account number, password, and TAN, the attackers were able to stealthily transfer funds out of victims' accounts while victims were left with the impression that their transaction had completed successfully.

Gabi Reish, head of product management at Check Point, says: "Cyberattacks are constantly evolving to take advantage of the latest trends. As online and mobile banking continue to grow, we will see more targeted attacks in this area, and Eurograbber is a prime example."

He says all the banks involved have been notified and Check Point and Versafe are actively working with law enforcement agencies to halt the spread of the virus.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

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

Related stories

Cops bust Romanian gang behind Australia's largest credit card data theft

Cops bust Romanian gang behind Australia's largest credit card data theft

29 November 2012  |  4939 views  |  0 comments | 4 tweets | 2 linkedin
Gone in 60 seconds: Casino scammers lift $1 million from Citibank kiosks

Gone in 60 seconds: Casino scammers lift $1 million from Citibank kiosks

31 October 2012  |  10266 views  |  0 comments | 13 tweets | 8 linkedin
Cybercrime a growing risk for FS firms - PwC survey

Cybercrime a growing risk for FS firms - PwC survey

27 March 2012  |  6672 views  |  0 comments | 1 linkedin
Russian security services bust notorious malware ring

Russian security services bust notorious malware ring

21 March 2012  |  6389 views  |  0 comments
South Africa's Postbank loses R42 million to cybercrime gang

South Africa's Postbank loses R42 million to cybercrime gang

17 January 2012  |  5764 views  |  1 comments
Banks must wake up to mobile virus threat - Ovum

Banks must wake up to mobile virus threat - Ovum

06 July 2010  |  13701 views  |  0 comments
Gang jailed for Trojan bank theft scam

Gang jailed for Trojan bank theft scam

16 November 2009  |  10718 views  |  0 comments
download the paper nowvisit www.niceactimize.comvisit www.worldpaymentsreport.com

Who is commenting?

A Finextra member Finextra Member Commented on: US firm to implant emp...
A Finextra member Finextra Member Commented on: US firm to implant emp...
A Finextra member Finextra Member Commented on: US firm to implant emp...

Top topics

Most viewed Most shared
UK judge blocks £14bn class action suit against MastercardUK judge blocks £14bn class action su...
10330 views comments | 7 tweets | 6 linkedin
PayPal strikes deals with Chase and CitiPayPal strikes deals with Chase and Citi
9890 views comments | 10 tweets | 6 linkedin
Machines could take over 30% of bank jobs: McKinseyMachines could take over 30% of bank jobs:...
9315 views comments | 28 tweets | 27 linkedin
Yet more deals announced in payments sectorYet more deals announced in payments secto...
9276 views comments | 7 tweets | 21 linkedin
Wells Fargo Control Tower to map customer's digital footprintsWells Fargo Control Tower to map customer'...
8113 views comments | 7 tweets | 5 linkedin

Featured job

Competitive
London, UK (or flexible)

Find your next job