54 arrests made in connection with social engineering financial scam.
Efforts by Spanish and Portuguese law enforcement last month saw 54 people arrested on charges of social engineering and using fraudulent phone calls.
In a statement by Europol, it said those charged were responsible for €2,500,000 in losses, with computers, laptops, mobile phones and SIM cards collected.
The tactic of voice phishing - vishing - would be used, with one of the gangs calling victims pretending to be a bank employee, and telling them there was something wrong with their account. From this they gained information on the victim, and would visit the victim in person.
Written by
Dan Raywood
Senior Editor
SC Media UK
Dan Raywood is a B2B journalist with more than 20 years of experience, including covering cybersecurity for the past 16 years. He has extensively covered topics from Advanced Persistent Threats and nation-state hackers to major data breaches and regulatory changes.
He has spoken at events including 44CON, Infosecurity Europe, RANT Conference, BSides Scotland, Steelcon and ESET Security Days.
Outside work, Dan enjoys supporting Tottenham Hotspur, managing mischievous cats, and sampling craft beers.
