Young Russian hackers defraud Turkish bank customers

Risk staff
01 Sep 2007

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Regulation

The hackers are said to have purchased a dedicated server with remote access to a desktop hosted in a US data centre.

They made more than 260 money transfers from Turkish bank accounts using a customised RATsystem (remote administration trojan) application, which infected customers' personal computers and enabled access to customers' bank accounts.

The hackers then transferred money to Turkish collaborators' accounts, who cashed the money before wiring it back to the hackers' home town.

Russian newswires have reported that one hacker has been arrested, while the other is still on the run.

The hack is the longest running of its type in the world and again highlights the vulnerability of banking software and the importance of protecting online banking consumers.

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