The UK police have arrested three individuals accused of using the Spy-Eye malware kit to affect users in order to commit online banking fraud.
According to a report on PC World, the arrests made by the Police Central e-Crime Unit, were a part of an international investigation against organised crime outfits specialising in infecting users PC with malware for stealing online banking details.
Pavel Cyganoc, a 26 year old man of Lithuanian origin and living in Birmingham, was charged with conspiracy to cause unauthorized modifications to computers, conspiracy to defraud and concealing proceeds from crime while Aldis Krummins, a 45 year old Latvian living in Goole, was charged with conspiracy to defraud and concealing proceeds of crime.
The third accused, whose identity remains unknown, was let out on bail but was asked to appear for questioning in August. The three men had appeared before the Westminster Magistrates Court in London.
The group was caught using a modified version of the notorious Spy-Eye malware kit, which was used to infect unsuspecting customers' computer, which then gave access to their online banking details.
According to online security experts, the arrests, although important, will do little to affect the larger operations of the crime syndicate involved in the online banking fraud ring.