The gang uses a combination of phishing, malware and phone calls that the technology company says has netted more than USD 1 million from large and medium-sized US companies.
The scheme, which IBM security researchers have dubbed ‘The Dyre Wolf,’ is small in comparison with more recent widespread online fraud schemes but represents a new level of sophistication.
If installed, the malware waits until it recognizes that the user is navigating to a bank website and instantly creates a fake screen telling the user that the bank’s site is having problems and to call a certain number.
IBM did not release any details on which companies fell prey to the scheme or the location of the perpetrators.Once the transfer is complete, the money is then quickly moved from bank to bank to evade detection.
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