Cybercriminals have raked in tens of millions from phishing attacks which is why it isn’t an enormous shock that the Italian Mafia has adopted comparable techniques lately.
In keeping with a brand new press release from Europol, the Spanish Nationwide Police with help from the Italian Nationwide Police, Europol and Eurojust have dismantled an organized crime group linked to the Italian Mafia that was concerned in on-line fraud, cash laundering, drug trafficking and property crime.
Nevertheless, the suspects on this case additionally used phishing assaults and different kinds of on-line fraud together with SIM swapping and enterprise electronic mail compromise (BEC) to defraud tons of of victims. Within the final 12 months alone, they have been ready to herald €10 million ($11.7 million) in unlawful funds earlier than laundering this cash by way of a large community of cash mules and shell firms.
In whole, the operation resulted in 106 arrests that have been largely in Spain with some in Italy, 16 home searches and 118 financial institution accounts frozen. Regulation enforcement companies additionally seized various digital units in addition to 224 bank cards, SIM playing cards, POS systems and a marijuana plantation.
Turning into cybercriminals
The big legal community disrupted by the Spanish Nationwide Police and Italian Nationwide Police was very properly organized in a pyramid construction that included totally different specialised areas and roles.
Among the many members of the legal group, there have been laptop consultants who created the phishing websites used of their assaults and carried out cyber fraud. Nevertheless, there have been additionally recruiters and organizers answerable for discovering mules to maneuver the stolen cash and cash laundering consultants together with a number of cryptocurrency consultants.
A lot of the suspected members of the group are Italian nationals together with some who’ve ties to the Italian Mafia. The operation was based mostly out of Tenerife within the Spain’s Canary Islands and the suspects tricked their victims (a lot of whom have been Italian nationals) into sending giant sums to financial institution accounts managed by the legal community. This cash was then laundered by way of a large community of cash mules and shell firms.
Now that the Italian Mafia has proven that it is potential to make use of techniques generally employed by cybercriminals, different legal organizations might comply with swimsuit and check out their hand at turning into cybercriminals themselves.
By way of BleepingComputer