Category Archives: INTERPOL

Bank joins Interpol cyber-crime fighting centre

Barclays Bank is the first bank to have an analyst working alongside cyber-crime experts at Interpol’s research and development facility.

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Barclays is to become the first bank to have a cybercrime analyst working full-time alongside police at Interpol’s Cyber Fusion Centre to improve information-sharing and response to imminent security threats

OPM data breach’s big question: What’s fingerprint data worth in future cyber attacks?

Federal agencies and the intelligence community will form a working group to examine how fingerprint data can be used in future attacks.

Interpol’s centre in Singapore allows law enforcement, the private sector, and academia to work together, sharing threat information and developing responses.

The Barclays cybercrime analyst will join other experts from Cyber Defense Institute, Kaspersky Lab, LAC, NEC, SECOM, Trend Micro, the University of South Australia, and the University of Waikato in New Zealand who are already based at the Interpol Global Complex for Innovation (IGCI).

“The scale and complexity of today’s cyberthreat landscape means cooperation across all sectors is vital,” said Noboru Nakatani, the IGCI’s executive director.

Interpol said its agreement with Barclays will broaden joint efforts in cybersecurity through intelligence sharing, training, and awareness about cyber threats mitigation, and providing recommendations for public and private institutions on strengthening their cyber-resilience.

Barclay’s Group Chief Information Security Officer Troels Oerting said: “Preventing cybercrime and keeping our citizens safe from being victims of crime in cyberspace is a global task and cannot be done without the involvement of Interpol.”

Banks are among the businesses most commonly targeted by cyber criminals. Last month HSBC said it had defended itself against a major DDoS (Distributed Denial of Service) attack and was working closely with law enforcement authorities to pursue the criminals responsible.

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Henry Sapiecha

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Interpol arrests alleged ringleader of $60 million online scam network

Suspected head of an international criminal network, which took $60 million from victims, has been caught — following cooperation between authorities and cybersecurity firms.

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Interpol worked with Nigerian authorities, Trend Micro and Fortinet on the investigation. (Image: Interpol)

The alleged head of an international network responsible for compromising the email accounts of businesses across the world and then using them to scam victims out of a combined $60 million has been arrested by Interpol.

Known as ‘Mike’, the 40 year-old Nigerian national behind the scams is suspected of deceiving thousands of victims, with one incident of this business email compromise scam resulting in one target being conned out of $15.4 million.

Interpol hopes physical border security will solve virtual borders

Although physical and virtual borders are vastly different, Interpol is already seeing results suggesting that it can apply the concept to online criminal activity.

‘The suspect headed a network of cybercriminals and hackers across Nigeria, Malaysia, and South Africa who used malware to compromise the accounts of small and medium-sized businesses then use the hijacked accounts — including those of executives — to carry out cyber fraud,” Interpol said.

Organisations in Australia, Canada, India, Malaysia, Romania, South Africa, Thailand, and the US all had their email accounts compromised by the cybercriminal gang, which then used trust in emails from the hacked business to trick unsuspecting victims into transferring them money for items and services they would never receive.

The man accused of leading the operation was arrested in Port Harcourt, Nigeria, following collaboration between Interpol, the Nigerian Economic, and Financial Crime Commission (EFCC), using intelligence provided by cybersecurity firms Trend Micro and Fortinet.

Working with the Interpol Digital Crime Centre, Trend Micro — which has been sharing threat information with the global police since 2014 — and Fortinet were able to help locate the suspect in Nigeria, which then led to his arrest in June.

Following the arrest, a forensic examination of seized devices showed that he’d been involved in a range of cybercriminal activities, with two main schemes that used the compromised business email accounts, the agency said.

Firstly, the operation engaged in payment diversion fraud where a supplier’s email was compromised and used to send fake messages to the buyer, asking for payments to a bank account under criminal control.

The gang also engaged in CEO fraud, hacking email accounts of executives, and then using their privileges to request money be transferred, with the funds ending up in a bank account operated by the fraudsters.

In total, victims were scammed out of over $60 million, which was laundered through accounts in China, Europe, and the US in order to avoid detection. According to Interpol, business email fraud represents a significant growing threat with tens of thousands of companies having fallen victim in recent years.

“The public, and especially businesses, need to be alert to this type of cyber-enabled fraud,” said Noboru Nakatani, executive director of the Interpol Global Complex for Innovation.

“Basic security protocols such as two-factor authentication and verification by other means before making a money transfer are essential to reduce the risk of falling victim to these scams,” he added.

‘Mike’ and another suspect arrested in Nigeria face charges of hacking, conspiracy, and obtaining money under false pretences. Both are currently on bail as the investigation continues.

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Henry Sapiecha

www.crimefiles.net

www.scamsfakes.com