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Russian computer security company Kaspersky Lab has claimed that a multinational gang of cybercriminals has stolen as much as $1 billion from as many as 100 financial institutions around the world in about two years.
The company said it was working with Interpol, Europol and authorities from different countries to try to find it what is being called an unprecedented robbery.
The gang, which Kaspersky dubbed Carbanak, takes the unusual approach of stealing directly from banks, rather than posing as customers to withdraw money from companies’ or individuals’ accounts. The gang included cybercriminals from Europe, including Russia and Ukraine, as well as China.
The gang used carefully crafted emails to trick pre-selected employees into opening malicious software files, a common technique known as spear phishing. They were then able to get into the internal network and track down administrators’ computers for video surveillance.
In this way, the criminals learned how the bank clerks worked and could mimic their activity when transferring the money.
In some cases, the investigators said Carbanak inflated account balances before pocketing the extra funds through a fraudulent transaction. Because the legitimate funds were still there, the account holder would not suspect a problem.
Kaspersky said Carbanak also remotely seized control of ATMs and ordered them to dispense cash at a predetermined time, when a gang member would be waiting to collect the money.