Cops bust EUR1m phishing scam gang

Cops bust EUR1m phishing scam gang

Cops in Romania and Italy have arrested 20 suspected members of a gang that used spear phishing to obtain victims' bank account details before stealing a total of around EUR1 million.

According to Europol, the gang sent out spear phishing emails purportedly from tax authorities to customers of two, unnamed, major banks. Hundreds of victims clicked on a link in the email and were taken to a fake version of a legitimate website, where their account details were harvested.

The crooks then used the bank details to transfer money to accounts under their control and then withdrew the funds from ATMs in Romania.

An investigation into the scam began in 2016 and this week saw nine individuals in Romania and 11 in Italy arrested. The gang members are also suspected of money laundering, drug and human trafficking, prostitution and participation in a criminal organisation.

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