Malware raid on UK bank nets $1.64 million

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Financial Services // UK

The Metropolitan Police’s brand new cybercrime unit is probing a theft of £1m (US$1.64 million) from two banks that employed malicious software to loot customer accounts. So far, the cops have arrested four people from an alleged crime ring, along with seizing £80,000 and a live grenade.

Two 31-year-old men, a 27-year-old woman and a 24-year-old woman were detained. The cyber unit just launched in October.

A number of customers had inadvertently downloaded the malware onto their computers after opening emails claiming to be from their bank. The crooks then accessed the victims’ accounts through their compromised computers to transfer cash to a series of other accounts.

Detective Chief Inspector Jason Tunn, from MPCCU, said: "These arrests by the Met's cybercrime unit follow an investigation into what we suspect is an international and organised crime targeting a number of bank customers in London and across the UK. The victims have been hoodwinked by malware-carrying emails purporting to be from their banks, and subsequently had money taken from their accounts."

ThreatWatch is a regularly updated catalog of data breaches successfully striking every sector of the globe, as reported by journalists, researchers and the victims themselves.