Five people were arrested by US authorities on charges of forming a criminal organization and participating in a $45 million online fraud scheme. Earlier this month, three more members of the gang pleaded guilty.
The defendants allegedly participated in two organized cyber operations:
The first operation, which took place in December 2012, targeted prepaid cardholders of the National Bank of Ras Al Khaimah, in the United Arab Emirates. The criminals managed to hack into the victims’ bank accounts and make 4,500 illegal withdrawals from ATMs in 20 countries. The total losses from the attack amounted to $5 million.
The second operation, carried out in February 2013, targeted the accounts of customers of Bank Muscat in Oman. The attack resulted in the theft of funds totaling $40 million.
The defendants face up to 7.5 years in prison for committing fraud and unauthorized access to electronic devices.
