Feeds

SpyEye suspects charged over alleged banking scam

Two in court, one on bail

5 things you didn’t know about cloud backup

UK police have arrested three men over an alleged scam involving stealing money from online bank accounts that had been compromised using the infamous SpyEye Trojan.

Two of the three men – Pavel Cyganoc, 26, a Lithuanian resident of Birmingham, and Aldis Krummins, 45, a Latvian resident of Goole, Humberside – appeared at Westminster Magistrates Court on Saturday charged with computer hacking, fraud and money-laundering offences. A third (unnamed) 26-year-old suspect was released on police bail pending further inquiries.

The gang are alleged to have used banking Trojans, created using the SpyEye cybercrime toolkit, to lift bank login credentials from compromised PCs, PC World reports. It is unclear whether the suspects were simply money mules – low-level cyber-crooks tasked with receiving funds from locally compromised accounts before sending the proceeds of crime to east European cybercrime lords – or higher up the food chain.

Investigations in the case, which began in January and remain ongoing, were led by the Police Central e-Crime Unit, a specialist squad of cybercops based in Scotland Yard. A Met police spokesman confirmed the names of the suspects but was unable to provide further information on the case due to a reporting restriction, routinely imposed at the early stage of UK court proceedings.

Last year, police in the US and UK arrested dozens of suspected money mules while police in the Ukraine arrested three higher level suspects in an alleged racket involving the ZeuS cybercrime toolkit.

Both ZeuS and SpyEye create a means to create customised banking Trojans. Each is offered for sale via unground cybercrime forums for around $1,000 a licence.

Reports last October suggest the author of ZeuS hung up his coding tools and passed on development of his malware to the developer of SpyEye, a former rival. Development of both products has continued since, with Both ZeuS and SpyEye continuing to support a malign ecosystem of resellers and end users. ®

Next gen security for virtualised datacentres

More from The Register

next story
Snowden on NSA's MonsterMind TERROR: It may trigger cyberwar
Plus: Syria's internet going down? That was a US cock-up
Who needs hackers? 'Password1' opens a third of all biz doors
GPU-powered pen test yields more bad news about defences and passwords
e-Borders fiasco: Brits stung for £224m after US IT giant sues UK govt
Defeat to Raytheon branded 'catastrophic result'
Microsoft cries UNINSTALL in the wake of Blue Screens of Death™
Cache crash causes contained choloric calamity
Germany 'accidentally' snooped on John Kerry and Hillary Clinton
Dragnet surveillance picks up EVERYTHING, USA, m'kay?
Linux kernel devs made to finger their dongles before contributing code
Two-factor auth enabled for Kernel.org repositories
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Top 10 endpoint backup mistakes
Avoid the ten endpoint backup mistakes to ensure that your critical corporate data is protected and end user productivity is improved.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
Rethinking backup and recovery in the modern data center
Combining intelligence, operational analytics, and automation to enable efficient, data-driven IT organizations using the HP ABR approach.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.