Online Banking Scam Robs Europeans of $47 Mln (Network World)

Commercial and retail customers at 30 banks were targeted by 'Eurograbber.'

An online banking scam that uses a virus to compromise banking customers’ security credentials and wire money from their accounts has stolen $47 million from 30,000 customers at 30 banks in Germany, Holland, Italy and Spain, according to Network World. The scam was reported by two security vendors, Check Point Software Technologies and Versafe, who dubbed it “Eurograbber.”

The scam affected both commercial and retail banking customers, transferring from 500 euros to 250,000 euros ($654 to $326,773) out of their accounts. The security firms note that Eurograbber was able to work around security measures involving a transaction authentication number (TAN) sent to the customer’s mobile device.


See the full story here, the security firms’ press release here and their full report here.




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