A gang of suspected fraudsters, alleged to have stolen details of more than 20,000 bank accounts and credit cards in an operation that could have netted £3 million (US$4.7 million), have been arrested by authorities in London and Navan, Ireland.
According to a statement by the Metropolitan Police, the Police Central e-Crime Unit (PCeU) and Irish Garda arrested the five men and one women on suspicion of conspiracy to commit online banking fraud and offences under the Computer Misuse Act.
The police investigation, dubbed “Operation Dynamophone”, explored a criminal campaign that harvested the details of online bank accounts and credit card numbers after the gang allegedly spammed out large numbers of emails pretending to be from legitimate online banking websites.
Once details had been stolen, the suspected fraudsters are said to have accessed online accounts and transferred funds.
The six people remain in custody as the investigation continues.
Read more in my article on the Naked Security website.