20 March 2012

Phishing gang steals victim's life savings of $1.6M

Police in Britain busted up a 14-person cybercrime gang accused of fleecing a single victim out of her $1.6 million life savings.
Arrested in early morning raids last Thursday in London and the West Midlands, the 12 men and two women were detained for their alleged part in the scheme, which involved sending rigged emails, to the victim, ZDNet reported, tricking her into essentially handing over her bank account credentials to a fake banking website set up by the scammers.
When the victim, a United Kingdom citizen living abroad, entered her login credentials, the cybercriminals were able to siphon her savings. The Metropolitan Police Central e-crime Unit (PCeU) said the 14 people passed the stolen funds off to money mules, who took a cut, anywhere from 9,000 to 75,000 pounds, before passing the cash off again to the masterminds of the massive phishing scam.
In all, the phishing gang made off with a total of about $1.6 million...........

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