Investigation of banking hack leads to arrests in Europe, Brazil
German and Brazilian police arrested seven suspects over a 2023 hack that drained an estimated 30 million euros from German bank accounts.
Germany's BKA said three suspects were arrested in Europe and charged with fraud, while Brazil's federal police arrested four others and executed 21 search warrants under Operacao Klonen (Operation Clone). The November 2023 attack exploited a vulnerability at a payment provider and used cloned payment cards to make unauthorized withdrawals from German online banking users, draining an estimated 30 million euros (34.7 million dollars). Funds were laundered through Brazil and four European countries, and courts ordered seizure of assets worth more than 20 million dollars. Brazilian media identified the affected bank as Commerzbank, which said customers suffered no financial loss.
- BKA arrested three suspects in Europe; Brazil arrested four with 21 search and seizure warrants
- Hackers exploited a payment provider flaw and cloned cards for unauthorized withdrawals in November 2023
- 30 million euros laundered through Brazil and four European countries; over 20 million dollars seized
- Brazilian media identified Commerzbank; the bank says customers suffered no losses
- One suspect allegedly used illicit funds for a 2024 Rio de Janeiro city council campaign
Full article427 words · extracted from therecord.media · click to collapse
German and Brazilian authorities said there were multiple arrests this week related to a late 2023 hack that drained an estimated €30 million ($34.7 million) from German bank accounts. Germany’s federal police agency, the BKA, said three suspects were picked up in Europe and charged with fraud, and Brazil’s federal police said four others were arrested on similar charges there as part of Operação Klonen (Operation Clone), which executed 21 search and seizure warrants nationwide. Over four days in November 2023, the hackers were able to make “numerous unauthorized withdrawals from the accounts of German online banking users” by exploiting a vulnerability in a payment provider, the BKA said. Brazilian authorities said the process involved cloned payment cards. The criminals then moved and laundered the money through networks in Brazil and four European countries, police said. Neither police agency specified the affected bank, but Brazilian media reported that it was Germany’s Commerzbank. German media reported in late 2023 that Commerzbank had suffered a €30 million hack. At the time, the Frankfurt-based bank said customers would not incur losses. "The fraud case is known and dates back to 2023. Due to technical issues at a service provider, unauthorized direct debits were made from customer accounts," a bank spokesperson said. "There was no financial loss to customers. We cooperated closely and extensively with the authorities." The suspects detained in Europe will be prosecuted in Spain and Bulgaria, the BKA said. Spanish and Bulgarian authorities assisted in the investigation, the agency said, as well as the Frankfurt public prosecutor’s office. Brazilian authorities said courts there ordered the seizure of “financial assets, vehicles, and real estate” worth more than $20 million. There was a twist, too: A person identified in the investigation “was a candidate for elected office in 2024 and used part of the illicitly obtained money in his campaign,” Brazilian police said. They did not release his name. Local media reported he had been a city council candidate in Rio de Janeiro. Brazilian police also said they seized a 3-D printer used to make weapons as part of the sweep for suspects.
No previous article
No new articles
Joe Warminsky
has been the news editor for Recorded Future News since 2022. He has three decades of experience as an editor and writer in the Washington, D.C., area. He previously he helped lead CyberScoop for more than five years. Prior to that, he was a digital editor at WAMU 88.5, the NPR affiliate in Washington, and he spent more than a decade editing coverage of Congress for CQ Roll Call.
Text extracted automatically; images, tables and formatting may be missing. Original: https://therecord.media/investigation-into-banking-hack-leads-to-arrests-germany-brazil