Monday, August 22, 2011

$20M Bank Heist Ring Busted in Ukraine. Hackers Face Two Years in Prison.

In addition to ranking the top 50 worst webhosts for repeat cybercrime, Host Exploit reports on the $20M theft from US and foreign banks at the hands of a Ukrainian hacker ring. As announced today by Ukraine authorities, the four initial members arrested face two years in prison:

The Ukrainian law enforcement agency said in a press statement that a long-term operation, held jointly with the U.S., led to the discovery of an extensive network of hackers involving more than 20 people of different nationalities who used high-tech equipment to steal from the bank accounts of unsuspecting customers.

The gang are said to have used specialized computer programs to gain access to confidential card information which they then used to make fake bank cards and to carry out the unauthorized transactions from the bank accounts of victims in a number of different countries. Stolen funds were transferred to bank accounts set up by other members of the group.

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