Financial cyber fraud continues to rise

[Carding Forum]

At a conference held on June 19 in Kiev and dedicated to cybersecurity and the world, a representative of the Cybercrime Department of the Ministry of Internal Affairs of Ukraine Vasily Guziy spoke about what violations were recorded over the past year and in which international projects the Ministry of Internal Affairs of Ukraine participated.

According to Mr. Guziy, since the beginning of this year, 9 security violations of remote banking systems have been recorded, which led to losses in the amount of UAH 1 million 272 thousand.

The most popular types of cyber fraud are traditionally:

• fraud with payment cards (last year an organized criminal group was arrested for committing fraudulent actions with payment cards);
• skimming (theft of user card data using a special reader installed in the ATM);
• phishing (creation of fake payment sites).

Also, the representative of the Ministry of Internal Affairs told about the arrest of one of the bartenders of the international airport "Boryspil", who fraudulently stole funds from bank cards of clients. When paying by a client with a card, the bartender secretly photographed the number and the secret CVV-code of the card using his phone. Then he remotely transferred funds from the client's account and "legalized" them using electronic wallets.

According to Vasily Guziy, during 2021, the Cybercrime Department conducted three international investigations to document criminal groups involved in money laundering from cybercrime:

• Germany - money laundering obtained from the functioning of the
  Ransomware malware (a virus that blocks the operating system and demands money);
• Austria, Belgium, Great Britain - money laundering received from banking
  Trojans Spyeye, Zeus, Torpig;
• USA - money laundering obtained as a result of the operation of the
  Shylock malware.