Europol Breaks Open Extensive Mafia Cybercrime Ring

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International law enforcement has busted up an extensive cybercrime operation run by a gang with ties to the Italian Mafia.
 
The group allegedly used phishing attacks to defraud hundreds of victims. The suspects used various lures to convince victims (mostly Italian nationals but also Spanish, English, German and Irish targets) to wire money to bank accounts controlled by the criminal network, according to Europol.
 
“The group, using hackers specialized in latest-generation phishing and vishing attacks and in the use of social-engineering techniques, had taken possession of the home banking credentials of victims… arranging bank transfers for thousands of Euro,” according to an announcement from the Italian National Police (Polizia di Stato).
 
The gang also engaged in other types of online fraud such as SIM swapping and business email compromise (BEC), Europol said. In all cases, the attackers laundered the money through a wide network of money mules and shell companies.
 
“The stolen sums were later recycled through the purchase of cryptocurrency or reinvested in further criminal activities, such as prostitution, drug production and trafficking, and arms trafficking,” according to the Polizia di Stato.

Read more: Europol Breaks Open Extensive Mafia Cybercrime Ring | Threatpost