Biggest Internet fraud case in history

January 27, 2007 at 6:06 pm Leave a comment

Bank hit by ‘biggest Internet fraud case in history’

Swedish bank Nordea has been hit by what security company McAfee has called the biggest Internet fraud case in history.

Up to £600 000 has been stolen in the past three months from 250 customer accounts. E-mails were sent asking Nordea customers to download a piece of software which they were told was a piece of anti-spam software. In fact it was a piece of software which was activated when customers tried to log into Internet banking with Nordea. Out-Law.com reports that it recorded their login details and asked them to log in again because of a fictional error. It then recorded their second attempt to log in, which would give hackers enough information to access accounts. Security Park reports that police have established that login information was sent to servers in the US and then to Russia. Since then unknown criminals have logged in transferring large amounts from the bank. According to Boo Ehlin, Nordea’s Swedish spokesperson, most of the affected customers did not have antivirus software installed on their computer. Data Monitor reports that this is not the first time that Nordea has been affected by online fraud. The bank, which has 2m Internet banking customers in Sweden alone, was also hit in August 2005, when it was forced to temporarily cease the operations of its online unit after a phishing attack.
Full Out-Law.com report
Full Security Park report
Full Data Monitor report

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About Biz News

My Name is Bisi and this is my blog This blog features stories that I have read that I think are interesting . I usually bookmark the stories that I find interesting but they are getting too many . I have decided to catalog and share them on this site . I am not really promoting the site so you might have accidentally stumbled on it . Thanks for visiting .
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