Europol

May 7, 2024 1 min read
Europol

In one of the most sophisticated cybercrime episodes in recent history, Europol reported a massive financial theft orchestrated by the criminal group known as Fin7 using the Carbanak banking Trojan. Over three years, Fin7 infamously siphoned off over €1 billion from financial institutions across more than 30 countries. The group leveraged malware initially obtained from the leaked source code of Carbanak, enabling them to execute 'jackpotting' attacks on ATMs and compromise sales terminals to pilfer funds. These meticulously planned intrusions often spanned months, enabling unauthorized transactions and withdrawals across numerous banks globally. The impact was severe, with Europol's involvement highlighting the international ramifications of the scheme. Despite significant arrests made in Spain and by the U.S. Department of Justice, which curtailed activities and shed light on the immense financial and security implications of such cybercriminal endeavors, the full scope and potential continuation of these activities remain a concern for the global banking sector.

Source: https://carnegieendowment.org/specialprojects/protectingfinancialstability/timeline

"id": "eur507050724",
"linkid": "europol",
"type": "Cyber Attack",
"date": "03/2018",
"severity": "100",
"impact": "6",
"explanation": "Attack threatening the economy of geographical region"

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