Financial Fraud | Breaking Cybersecurity News | The Hacker News

Two men have been indicted in the U.S. for their alleged involvement in managing a dark web marketplace called WWH Club that specializes in the sale of sensitive personal and financial information. Alex Khodyrev, a 35-year-old Kazakhstan national, and Pavel Kublitskii, a 37-year-old Russian national, have been charged with conspiracy to commit access device fraud and conspiracy to commit wire fraud. Khodyrev and Kublitskii, between 2014 and 2024, acted as the main administrators of WWH Club (wwh-club[.]ws) and various other sister sites – wwh-club[.]net, center-club[.]pw, opencard[.]pw, skynetzone[.]org – that functioned as dark web marketplaces, forums, and training centers to enable cybercrime. The indictment follows an investigation launched by the U.S. Federal Bureau of Investigation (FBI) in July 2020 after determining that WWH Club's primary domain (www-club[.]ws]) resolved to an IP address belonging to DigitalOcean, allowing them to issue a federal search warrant to t

Cybersecurity researchers have uncovered new Android malware that can relay victims' contactless payment data from physical credit and debit cards to an attacker-controlled device with the goal of conducting fraudulent operations. The Slovak cybersecurity company is tracking the novel malware as NGate, stating it observed the crimeware campaign targeting three banks in Czechia. The malware "has the unique ability to relay data from victims' payment cards, via a malicious app installed on their Android devices, to the attacker's rooted Android phone," researchers Lukáš Štefanko and Jakub Osmani said in an analysis. The activity is part of a broader campaign that has been found to target financial institutions in Czechia since November 2023 using malicious progressive web apps (PWAs) and WebAPKs. The first recorded use of NGate was in March 2024. The end goal of the attacks is to clone near-field communication (NFC) data from victims' physical payment ca

Account takeover attacks have emerged as one of the most persistent and damaging threats to cloud-based SaaS environments. Yet despite significant investments in traditional security measures, many organizations continue to struggle with preventing these attacks. A new report, " Why Account Takeover Attacks Still Succeed, and Why the Browser is Your Secret Weapon in Stopping Them " argues that the browser is the primary battleground where account takeover attacks unfold and, thus, where they should be neutralized. The report also provides effective guidance for mitigating the account takeover risk.  Below are some of the key points raised in the report: The Role of the Browser in Account Takeovers According to the report, the SaaS kill chain takes advantage of the fundamental components that are contained within the browser. For account takeover, these include: Executed Web Pages - Attackers can create phishing login pages or use MiTM over legitimate web pages to harve

Cybersecurity researchers have uncovered a new stealthy piece of Linux malware that leverages an unconventional technique to achieve persistence on infected systems and hide credit card skimmer code. The malware, attributed to a financially motivated threat actor, has been codenamed sedexp by Aon's Stroz Friedberg incident response services team. "This advanced threat, active since 2022, hides in plain sight while providing attackers with reverse shell capabilities and advanced concealment tactics," researchers Zachary Reichert, Daniel Stein, and Joshua Pivirotto said . It's not surprising that malicious actors are constantly improvising and refining their tradecraft, and have turned to novel techniques to evade detection. What makes sedexp noteworthy is its use of udev rules to maintain persistence. Udev, a replacement for the Device File System, offers a mechanism to identify devices based on their properties and configure rules to respond when there is a ch

A 27-year-old Russian national has been sentenced to over three years in prison in the U.S. for peddling financial information, login credentials, and other personally identifying information (PII) on a now-defunct dark web marketplace called Slilpp . Georgy Kavzharadze, 27, of Moscow, Russia, pleaded guilty to one count of conspiracy to commit bank fraud and wire fraud earlier this February. In addition to a 40-month jail term, Kavzharadze has been ordered to pay $1,233,521.47 in restitution. The defendant, who went by the online monikers TeRorPP, Torqovec, and PlutuSS, is believed to have listed over 626,100 stolen login credentials for sale on Slilpp and sold more than 297,300 of them on the illicit marketplace between July 2016 and May 2021. "Those credentials were subsequently linked to $1.2 million in fraudulent transactions," the U.S. Department of Justice (DoJ) said . "On May 27, 2021, Kavzharadze's account on Slilpp listed 240,495 login credentials fo

INTERPOL said it devised a "global stop-payment mechanism" that helped facilitate the largest-ever recovery of funds defrauded in a business email compromise ( BEC ) scam.  The development comes after an unnamed commodity firm based in Singapore fell victim to a BEC scam in mid-July 2024. It refers to a type of cybercrime where a malicious actor poses as a trusted figure and uses email to trick targets into sending money or divulging confidential company information. Such attacks can take place in myriad ways, including gaining unauthorized access to a finance employee or a law firm's email account to send fake invoices or impersonating a third-party vendor to email a phony bill. "On 15 July, the firm had received an email from a supplier requesting that a pending payment be sent to a new bank account based in Timor-Leste," INTERPOL said in a press statement. "The email, however, came from a fraudulent account spelled slightly different to the supplier

Meta Platforms on Wednesday said it took steps to remove around 63,000 Instagram accounts in Nigeria that were found to target people with financial sextortion scams. "These included a smaller coordinated network of around 2,500 accounts that we were able to link to a group of around 20 individuals," the company said . "They targeted primarily adult men in the U.S. and used fake accounts to mask their identities." In cases where some of these accounts attempted to target minors, Meta said it reported them to the National Center for Missing and Exploited Children (NCMEC). Separately, Meta said it also removed 7,200 assets, including 1,300 Facebook accounts, 200 Facebook Pages and 5,700 Facebook Groups, based in Nigeria that were used to organize, recruit and train new scammers. "Their efforts included offering to sell scripts and guides to use when scamming people, and sharing links to collections of photos to use when populating fake accounts," it sai

Retail banking institutions in Singapore have three months to phase out the use of one-time passwords (OTPs) for authentication purposes when signing into online accounts to mitigate the risk of phishing attacks. The decision was announced by the Monetary Authority of Singapore (MAS) and the Association of Banks in Singapore (ABS) on July 9, 2024. "Customers who have activated their digital token on their mobile device will have to use their digital tokens for bank account logins via the browser or the mobile banking app," the MAS said . "The digital token will authenticate customers' login without the need for an OTP that scammers can steal, or trick customers into disclosing." The MAS is also urging customers to activate their digital tokens to safeguard against attacks that are designed to steal credentials and hijack their accounts for conducting financial fraud. "This measure provides customers with further protection against unauthorized access to

Four Vietnamese nationals with ties to the FIN9 cybercrime group have been indicted in the U.S. for their involvement in a series of computer intrusions that caused over $71 million in losses to companies. The defendants, Ta Van Tai (aka Quynh Hoa and Bich Thuy), Nguyen Viet Quoc (aka Tien Nguyen), Nguyen Trang Xuyen, and Nguyen Van Truong (aka Chung Nguyen), have been accused of conducting phishing campaigns and supply chain compromises to orchestrate cyber attacks and steal millions of dollars. "From at least May 2018 through October 2021, the defendants hacked the computer networks of victim companies throughout the United States and used their access to steal or attempt to steal non-public information, employee benefits, and funds," the U.S. Department of Justice said in an unsealed indictment last week. According to court documents, the individuals – after successfully gaining initial access to target networks – stole gift card data, personally identifiable informat

The Singapore Police Force (SPF) has announced the extradition of two men from Malaysia for their alleged involvement in a mobile malware campaign targeting citizens in the country since June 2023. The unnamed individuals, aged 26 and 47, engaged in scams that tricked unsuspecting users into downloading malicious apps onto their Android devices via phishing campaigns with the aim of stealing their personal data and banking credentials. The stolen information was subsequently used to initiate fraudulent transactions on the victims' banking accounts, resulting in financial losses. Following a seven-months-long investigation that was launched in November 2023 in partnership with the Hong Kong Police Force (HKPF) and the Royal Malaysia Police (RMP), the SPF said it found evidence linking the two men to a syndicate responsible for carrying out malware-enabled scams. "The two men [...] allegedly operated servers for the purposes of infecting victims' Android mobile phones w

The U.S. Department of Justice (DoJ) on Wednesday said it dismantled what it described as "likely the world's largest botnet ever," which consisted of an army of 19 million infected devices that was leased to other threat actors to commit a wide array of offenses. The botnet, which has a global footprint spanning more than 190 countries , functioned as a residential proxy service known as 911 S5 . A 35-year-old Chinese national, YunHe Wang, was arrested in Singapore on May 24, 2024, for creating and acting as the primary administrator of the illegal platform from 2014 to July 2022. Wang has been charged with conspiracy to commit computer fraud, substantive computer fraud, conspiracy to commit wire fraud, and conspiracy to commit money laundering. If convicted on all counts, Wang faces a maximum penalty of 65 years in prison. The Justice Department said the botnet was used to carry out cyber attacks, financial fraud, identity theft, child exploitation, harassment, bo

A malware botnet called  Ebury  is estimated to have compromised 400,000 Linux servers since 2009, out of which more than 100,000 were still compromised as of late 2023. The findings come from Slovak cybersecurity firm ESET, which characterized it as one of the most advanced server-side malware campaigns for financial gain. "Ebury actors have been pursuing monetization activities [...], including the spread of spam, web traffic redirections, and credential stealing," security researcher Marc-Etienne M.Léveillé  said  in a deep dive analysis. "[The] operators are also involved in cryptocurrency heists by using AitM and credit card stealing via network traffic eavesdropping, commonly known as server-side web skimming." Ebury was first documented over a decade ago as part of a campaign codenamed  Operation Windigo  that targeted Linux servers to deploy the malware, alongside other backdoors and scripts like Cdorked and Calfbot to redirect web traffic and send spam

Google has filed a lawsuit in the U.S. against two app developers for allegedly engaging in an "international online consumer investment fraud scheme" that tricked users into downloading bogus Android apps from the Google Play Store and other sources and stealing their funds under the guise of promising higher returns. The individuals in question are Yunfeng Sun (aka Alphonse Sun) and Hongnam Cheung (aka Zhang Hongnim or Stanford Fischer), who are believed to be based in Shenzhen and Hong Kong, respectively. The defendants are said to have uploaded about 87 crypto apps to the Play Store to pull off the social engineering scam since at least 2019, with over 100,000 users downloading them and leading to substantial financial losses. "The gains conveyed by the apps were illusory," the tech giant said in its complaint. "And the scheme did not end there." "Instead, when individual victims attempted to withdraw their balances, defendants and their co

The Indian government said it has rescued and repatriated about 250 citizens in Cambodia who were held captive and coerced into running cyber scams. The Indian nationals "were lured with employment opportunities to that country but were forced to undertake illegal cyber work," the Ministry of External Affairs (MEA)  said  in a statement, adding it had rescued 75 people in the past three months. It also said it's working with "with Cambodian authorities and with agencies in India to crack down on those responsible for these fraudulent schemes." The development comes in the wake of a  report  from the Indian Express that said more than 5,000 Indians stuck in Cambodia were forced into "cyber slavery" by organized crime rackets to scam people in India and extort money by masquerading as law enforcement authorities in some cases. The report also tracks with an earlier disclosure from INTERPOL, which characterized the situation as  human trafficking-fu

The threat actors behind the PixPirate Android banking trojan are leveraging a new trick to evade detection on compromised devices and harvest sensitive information from users in Brazil. The approach allows it to hide the malicious app's icon from the home screen of the victim's device, IBM said in a technical report published today. "Thanks to this new technique, during PixPirate reconnaissance and attack phases, the victim remains oblivious to the malicious operations that this malware performs in the background," security researcher Nir Somech  said . PixPirate, which was  first documented  by Cleafy in February 2023, is known for its abuse of Android's accessibility services to covertly perform unauthorized fund transfers using the PIX instant payment platform when a targeted banking app is opened. The constantly mutating malware is also capable of stealing victims' online banking credentials and credit card information, as well as capturing keystrokes and intercepting SMS mes

Cybercriminals are using a network of hired money mules in India using an Android-based application to orchestrate a massive money laundering scheme. The malicious application, called  XHelper , is a "key tool for onboarding and managing these money mules," CloudSEK researchers Sparsh Kulshrestha, Abhishek Mathew, and Santripti Bhujel  said  in a report. Details about the scam  first emerged  in late October 2023, when Chinese cyber criminals were found to take advantage of the fact that Indian Unified Payments Interface ( UPI ) service providers operate without coverage under the Prevention of Money Laundering Act (PMLA) to initiate illegal transactions under the guise of offering an instant loan. The ill-gotten proceeds from the operation are transferred to other accounts belonging to hired mules, who are recruited from Telegram in return for commissions ranging from 1-2% of the total transaction amounts. "Central to this operation are Chinese payment gateways ex