Dozens of arrests of people committing Vishing scams

Spanish and Portuguese authorities have arrested 54 people suspected of involvement in a massive Vishing (voice phishing) scam that is estimated to have stolen at least 2.5 million euros ($2.7 million) from victims

As Europol, the arrests were made on June 4, thanks to a coordinated operation between the Spanish National Police (Policía Nacional), the Mossos d'Esquadra and the Portuguese Judicial Police (Policía Judiciária).

Nineteen properties were searched and one person was arrested while sitting in front of his computer with a victim's bank details on the screen. Police seized computers, laptops, mobile phones, SIM cards, cannabis and cocaine from the premises.

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These vishing scams targeted mainly Spanish senior citizens. Initially, the scammers would call the victims and pretend to be bank employees. The scammers would tell the elderly that something was wrong with their account. According to Europol, they would extract enough information and share it with other members of the gang, who would then show up at the victim’s home unannounced.

They then pressured victims into handing over their cards, bank details and PINs , which they used to withdraw cash or make expensive purchases. The bank details were also used to hack and delete accounts.

In some cases, gang members broke into victims' properties to steal cash and valuables.

The stolen funds were deposited in Spanish and Portuguese bank accounts and laundered through a network of money mules.

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The police were able to intercept the crooks' conversations and determined that they planned to use force, if necessary, to rob their victims. This information accelerated the authorities' operation.

Vishing, or voice phishing, is gaining popularity among cybercriminals as it can be more effective than regular email and text-based phishing. Many people are now wary of incoming messages. Additionally, senior citizens are more likely to fall victim to a vishing scam.

In this particular case, we saw that such an attack can be very dangerous, since it is not limited to stealing data. The fraudsters go to the victims' homes, putting their physical integrity at risk as well.

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What are the best practices for protecting against vishing attacks?

• Education and awareness are critical to protecting against vishing attacks. Learn about common techniques used by attackers and the signs to look out for .

• Avoid giving out personal information over the phoneunless you are absolutely sure of the caller's identity. If you receive a call from someone claiming to be from a reputable company, hang up and call the company directly using a number you know to be valid.

• Use technology to protect yourself. Install and keep software up to date security on your phone. Many apps can detect and block suspicious calls.

• Be wary of calls that ask for immediate action or offer something that seems too good to be true. Attackers often use scare tactics or offers to convince you to give up information.

• Report suspicious calls to the appropriate authorities. Many countries have helplines or websites where you can report vishing attacks, helping to protect others.

• Use caller ID to filter out unknown or suspicious numbers. If you don't recognize the number, consider not answering and letting the caller leave a message.

• Develop and follow policies security workplace. Educate your employees about the threats of vishing attacks and create procedures for verifying calls requesting sensitive information.

Source: www.infosecurity-magazine.com