Europol Announces Dismantling of Global Cybercrime Network

From PC Mag: Today, the European Union Agency for Law Enforcement Cooperation (Europol) is celebrating an international law enforcement operation that has dismantled a complex, malware-using, global cybercrime operation. In the process, 10 individuals have been charged and more are facing prosecution.

Law enforcement cooperation between Bulgaria, Georgia, Germany, Moldova, Ukraine, and the United States, with the support of Europol and Eurojust, has managed to identify and dismantle a cybercriminal network which relied on the GozNym malware in an attempt to steal millions of dollars from unwitting victims. In total, an estimated $100 million was planned to be stolen from over 41,000 businesses and financial institutions.

The criminal operation was a complex and organized setup. The leader of the network from is from Georgia, and leased access to the GozNym malware from a developer in Russia. Work was then carried out with the help of other cybercriminals recruited via Russian-speaking criminal forums to "crypt the malware," which allowed it to bypass detection by security software.

A number of email spammers were then recruited to distribute phishing emails to potential victims in an attempt to place the GozNym malware on their computers. The emails took the form of legitimate-looking business emails that the targeted institutions would regularly expect to receive. Clicking a link in these emails redirected the victim's computer to a site where the malware was downloaded and subsequently installed.

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