Citywire printed articles sponsored by:
View the article online at http://citywire.co.uk/wealth-manager/article/a704330
Eight arrested in £1.3m Barclays cyber raid
by Dylan Lobo on Sep 20, 2013 at 11:00
Eight men have been arrested in connection with a £1.3 million theft from Barclays.
The men, aged between 24 and 27, took control of the computer system at a branch in Swiss Cottage and are currently in custody in police stations dotted across the capital.
According to a police report, searches are currently being carried out at addresses within Westminster, Newham, Camden, Brent and Essex, where property has been seized, including cash, jewellery, drugs, thousands of credit cards and personal data.
The arrests come after Barclays' security reported the loss from accounts on 5 April.
A subsequent investigation and search of the Swiss Cottage branch found a keyboard, video and mouse (KVM) switch (KVM) attached to a 3G router, which was found to be connected to one of the branch computers.
A KVM switch is a hardware device used legitimately in business to allow users to work remotely on their office computer systems. It allows the user to control multiple computers from one or more keyboard, video monitor and mouse.
However it later emerged that the previous day a man posing as an IT engineer had gained access to the branch, falsely claiming he was there to fix computers. He subsequently deployed the KVM device.
Detective Inspector Mark Raymond of the Metropolitan Police’s e-crime unit said in a statement: ‘These arrests were achieved working in partnership with the Virtual Task Force (VTF), an unique information sharing cyber collaboration between the PCeU and the UK Banking sector.
‘Those responsible for this offence are significant players within a sophisticated and determined Organised Criminal Network, who used considerable technical abilities and traditional criminal know-how to infiltrate and exploit secure banking systems.’
Barclays is said to have recovered the losses.
News sponsored by:
Today's top headlines
More about this:
On the road
by Danielle Levy on Dec 12, 2013 at 09:03