Cybersecurity · 146 views
Hackers arrested over €30M bank fraud exploiting service provider flaw
Four cybercriminals were arrested in Brazil, and three others were charged in Europe over allegations that they exploited a vulnerability at a service provider, allowing them to withdraw funds from Commerzbank customers' bank accounts.
AI Summary
Four cybercriminals were detained in Brazil and three additional suspects were charged in Europe for exploiting a vulnerability in a service‑provider system to siphon funds from Commerzbank customers. The scheme operated over four days in November 2023, resulting in losses estimated at roughly €30 million ($34.6 million).
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