Cyber-Criminals Drain $3 Million from US Bank Accounts Using Trojan Malware

Posted on October 1, 2010


It is a sad fact that the economies and the convenience that computerized banking has brought to us has opened up a Pandora’s box.  The expensive war being waged against cyber-crime and attack by foreign governments is endless.  This week, law officials got lucky.

NEW YORK (CNNMoney.com) — An international cybercrime ring was broken up Thursday by federal and state officials who say the alleged hackers used phony e-mails to obtain personal passwords and empty more than $3 million from U.S. bank accounts.The U.S. Attorney’s Office charged 37 individuals for allegedly using a malicious computer program called Zeus Trojan to hack into the bank accounts of U.S. businesses and municipal entities.

In a related case, the Manhattan District Attorney, Cyrus Vance, charged 36 individuals for allegedly stealing $860,000 from dozens of individuals and corporations, including JPMorgan Chase.

Law enforcement officials arrested 10 of the defendants Thursday after 10 had already been taken into custody. Those individuals are expected to appear in court later Thursday in New York. Another 17 suspects are still being sought in the United States and abroad.

“This advanced cybercrime ring is a disturbing example of organized crime in the 21st Century — high tech and widespread,” New York District Attorney Cyrus Vance said in a statement. [ read the remainder of this article here]