Police in Ukraine and the Czech Republic have arrested members of a gang that stole millions of euros in vishing (voice phishing) attacks. The fraudsters called victims and pretended to be bank employees.
Europol gang may have earned tens of millions of euros. Losses for victims in the Czech Republic alone are estimated at around 8 million euros.
Ten suspects were arrested in April this year, six in Ukraine and four in the Czech Republic. Specialist investigators searched homes, vehicles and call centers in the Czech Republic (Domazlice, Rokycany and Plzen) and Ukraine (Dnipropetrovsk) with the support of Europol.
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During the operation, mobile phones, SIM and computer equipment.
Operating from call centers located in Ukraine, the gang primarily targeted bank customers in the Czech Republic. The fraudsters called the victims, posing as employees at their banks as well as police officers. They apparently used fake phone numbers.
They were convincing enough to gain the trust of the victims and told them that their accounts had been “hacked” and that they needed to transfer their funds to “safe” accounts. Apparently, these accounts belonged to the scammers, who in this way managed to earn millions of euros. This is how a vishing attack works.
However, this trick soon caught the attention of the authorities. Authorities in the Czech Republic and Ukraine began to secretly investigate.
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Vishing is an increasingly popular tactic, as a phone call can appear more legitimate than a text or email. British carrier EE said last year it blocked a million scam phone calls a day after launching new AI technology.
The tactic is often used in conjunction with traditional phishing to increase the scammers' chances of success.
Last year, PhishLabs revealed that so-called “hybrid vishing” attacks, which begin with an email that includes a contact number to allow for a phone conversation, increased by 652% from Q1 to Q2 2022.
Arresting fraudsters
This police operation contributes to the overall effort to dismantle cybercriminals. The arrest of this particular ring sends a clear message to cybercriminals that the authorities are determined to confront them and bring them to justice. This may deter other cybercriminals from attempting to commit similar crimes.
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Furthermore, the successful conviction of this ring demonstrates that authorities have the capacity and skill to detect and prosecute cybercriminals. This strengthens public confidence in authorities’ efforts to combat cybercrime and encourages users and organizations to report security incidents and cooperate with authorities.
Source: www.infosecurity-magazine.com
