CyberNews Briefs

Phishing gang that stole millions by luring victims to fake bank websites is broken up by police

Europol has busted a phishing and fraud ring that was reportedly responsible for the theft of several millions of euros being stolen from victims. The perpetrators engaged in illicit activities such as scams, fraud, money laundering, and phishing to achieve their financial goals. Europol has also confirmed that some of the members of the group have known links to cases of drug trafficking and firearms trafficking. Europol says that victims were initially contacted via email, text messages, and other mobile applications in an attempt to lure them into giving up valuable credentials and information that led to bank theft.

The gang used money mules who then transferred the stolen funds into second accounts and cashed out. Europol reportedly worked in conjunction with the Belgian and Dutch police by collaborating on information sharing, operational coordination, and analytical support. Europol also provided support to investigators on the ground actively interacting with the operation. Several raids took place in June of this year, leading to nine arrests and 24 home being searched in the Netherlands.

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