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UK Hackers Sent To Jail After Stealing £600,000

In what could be considered as a caveat to online fraudsters, a UK court in a landmark ruling has sentenced a gang of cybercriminals to jail after they admitted of using sophisticated Trojans to steal login credentials of several bank customers to siphon a whopping £600,000 from their bank accounts.

Southwark Crown Court of London on Friday imposed prison sentences of around 4 and a half years on the four men found guilty of attempting to steal money from bank accounts to send it to countries in Eastern Europe and Russia.

IDG News Service is reporting that the offenders in question used a sophisticated Trojan, codenamed as “PSP2-BBB”, which executed the so-called “man-in-the-browser attack” to surreptitiously monitor victim’s web browsers, followed by transferring the stolen money to third-party accounts.

The Metropolitan Police noted that the ‘money mules’ subsequently accessed the funds and redirected them to various destinations in Eastern European and Russia via Western Union money transfer service.

The case illustrates first incidence of intensive collaboration between the financial sector and the Police Central e-Crime Unit (PCeU), which was set up earlier this year by the UK government as a response to the criticisms that it wasn’t doing enough to put a check on cybercrime.

Our Comments

Detective constable at PCeU, Kevin Brocklesby, said in a statement: “This was a complex investigation which certainly involves other people in Russia, but there was a clear structure to the organisation in the UK”. Let's hope that this sends a clear message to Cybercriminals that target UK users.

Related Links

Hackers sentenced for Trojan bank heist (opens in new tab)

(V3.co.uk)

UK hails first cybercrime cooperation with banks (opens in new tab)

(IT World)

Gang sentenced for UK bank trojan (opens in new tab)

(The Register)

Gang gets 13 years after trojan attack on UK bank accounts (opens in new tab)

(Computer Weekly)

UK Hails First Cybercrime Cooperation With Banks (opens in new tab)

(PC World)

Désiré has been musing and writing about technology during a career spanning four decades. He dabbled in website building and web hosting when DHTML and frames were en vogue and started writing about the impact of technology on society just before the start of the Y2K hysteria at the turn of the last millennium. Following an eight-year stint at ITProPortal.com where he discovered the joys of global tech-fests, Désiré now heads up TechRadar Pro. Previously he was a freelance technology journalist at Incisive Media, Breakthrough Publishing and Vnunet, and Business Magazine. He also launched and hosted the first Tech Radio Show on Radio Plus.