Malicious Software Networks Disrupted By US Led Operation

The Justice Department said on Monday they along with a host of security firms have disrupted the operation of a cybercrime gang that infected hundreds of thousands of private computers with computer malware used for stealing banking credentials and millions of dollars from people all over the world.

1280x720

The Gameover Zeus botnet is a highly prevalent password-stealing Trojan that targeted thousands of small businesses. And according to Dell SecureWorks Counter Threat Unit, this was the most active banking trojan of 2013. In a separate action, U.S. and foreign law enforcement officials blocked another virus known as “Cryptolocker,” software that encrypts files on computers and then extracts ransom payments in return for the user’s own files.

Federal prosecutors also filed charges against the group’s alleged leader, Russian citizen Evgeniy Mikhaylovich Bogachev, who they say led a gang of cyber criminals in Russia and Ukraine that spread the GameOver Zeus malware and the notorious Cryptolocker ransomware. The Russian hacker is now among the FBI’s most-wanted cyber criminals.

Since GameOver Zeus first appeared in September 2011, it is responsible for more than $100 millions of dollars in losses among U.S. victims, and more than 13 million computers worldwide were infected, according to the US Department of Justice. The Cryptolocker has been used to attack about 200,000 computers, in which half were in the U.S. In its first two months, hackers extracted an estimated $27 million from victims, Deputy Attorney General James Cole said.

Source: FBI.gov “most wanted, cyber criminal

Source: FBI.gov “most wanted, cyber criminal

Victims’ computers were most commonly infected when a user clicked on a link in an unsolicited email or via a website that appeared to have come from a trusted source. The virus was designed to steal people’s online banking login details and passwords; it would then transmit the information back to the criminal network that uses it to steal from the victim’s accounts. Victims of botnets often don’t realise their computers are attacked until they’ve suffered losses.

The case demonstrates what a burgeoning problem this is turning into. While certain criminals steal millions at a time from bigger businesses, many more hope to elude notice by swindling a relatively small amount from small businesses and individuals. As a matter of fact, many cyber criminals are trained in netting just a few hundred dollars from each victim. With possibly millions of victims out there, they can make huge sums without drawing too much attention.

Assistant U.S. attorney general for the Justice Department’s criminal division, Leslie Caldwell said the campaign to close down Gameover Zeus began May 7, when Ukrainian officials confiscated computer servers in Kiev and Donetsk that helped administer the botnet. The Homeland Security Department’s Computer Emergency Readiness Team is helping the victims to eliminate the Gameover Zeus malware.

Anna Domanska
Anna Domanska is an Industry Leaders Magazine author possessing wide-range of knowledge for Business News. She is an avid reader and writer of Business and CEO Magazines and a rigorous follower of Business Leaders.

Recent Posts

College sports is multibillion dollar industry in the US

College sports is multibillion dollar industry in the US

According to data analyzed by GOBankingRates, head football coaches, closely followed by basketball coaches, easily rack up seven-figure salaries in the US.
12 hours ago
Top women influencers in finance and wealth management

Top women influencers in finance and wealth management

It is only in the last century or so that women have been publicly acknowledged for their roles as leaders in various fields. Here’s a list of women influencers by Industry Leade
1 day ago
Brian Goldner, who led Hasbro’s transformation into an entertainment giant, passes away at 58

Brian Goldner, who led Hasbro’s transformation into an entertainment giant, passes away at 58

Brian Goldner, the CEO and Chairman of toymaker Hasbro, has died at age 58, the company said Tuesday (Oct. 12).
3 days ago
JPMorgan Chase CEO Jamie Dimon slams Bitcoin as worthless

JPMorgan Chase CEO Jamie Dimon slams Bitcoin as worthless

JPMorgan Chase CEO Jamie Dimon took another potshot at Bitcoin on Monday by calling the cryptocurrency “worthless” likening trading BTC to smoking cigarettes.
4 days ago
Refiner Eneos to buy Japan Renewable Energy for $1.8 billion

Refiner Eneos to buy Japan Renewable Energy for $1.8 billion

Eneos Holdings, Inc., Japan’s biggest refiner, announced Monday it would buy Japan Renewable Energy (JRE) for $1.8 billion to expand its low-carbon businesses.
5 days ago
Amazon, Facebook and Google to cough up a 15% minimum global tax rate

Amazon, Facebook and Google to cough up a 15% minimum global tax rate

More than 130 nations agreed on Friday (Oct. 8) to set a new minimum tax rate for companies around the world. The global corporate tax rate is an attempt to deter tax avoidance by
7 days ago