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Four suspects have been arrested in Brazil for a massive bank fraud scheme in which the perpetrators stole approximately €30 million. According to investigators, hackers exploited a vulnerability in the system of a service provider serving the German bank Commerzbank and made unauthorized debits from its clients' accounts.
The attack occurred in November 2023 and lasted only four days. The Brazilian Federal Police and the German Federal Criminal Police Office (BKA) are investigating the incident.
Although neither agency has disclosed the name of the bank affected, Brazilian media have reported that it is Commerzbank, and bank representatives confirmed to BleepingComputer that the incident did indeed affect its clients:
[td]
"Due to technical issues on the service provider's side, unauthorized direct debits were made from customers' accounts. Customers suffered no financial losses. We cooperated closely and comprehensively with the authorities."[/td]According to the BKA , the problem arose after a botched software update in the financial institution's payment and transaction processing system. In November 2023, hackers exploited this bug and initiated numerous unauthorized debits from various accounts, then transferred the stolen funds to Brazil. The funds passed through a network of transit accounts, companies, payment institutions, crypto platforms, and payment cards (often issued without the owners' consent), all intended to conceal the origin of the funds.
Ultimately, the majority of the funds were cashed out in Brazil, with a smaller portion in four other unspecified European countries.
Last week, Brazilian police, with the support of the BKA, carried out Operation Klonen. Law enforcement officers conducted searches and seizures based on 21 warrants in seven cities, and four suspects were detained in Rio de Janeiro, Guarulhos, Goiânia, and Carapicuíba.
Investigators now report that, in addition to the four individuals detained in Brazil, three more suspects have been identified in European countries and will be prosecuted in Spain and Bulgaria.
The detainees have already been charged with, among other things, aggravated theft involving wire fraud, participation in a criminal organization, and money laundering.
It should also be noted that during the investigation, it was discovered that one of the defendants ran in the 2024 elections and used part of the stolen funds to finance his political campaign.
A Brazilian Federal Court has ordered the seizure of the suspects' financial assets, vehicles, and real estate worth up to 106 million Brazilian reals (approximately $22.4 million).
The attack occurred in November 2023 and lasted only four days. The Brazilian Federal Police and the German Federal Criminal Police Office (BKA) are investigating the incident.
Although neither agency has disclosed the name of the bank affected, Brazilian media have reported that it is Commerzbank, and bank representatives confirmed to BleepingComputer that the incident did indeed affect its clients:
"Due to technical issues on the service provider's side, unauthorized direct debits were made from customers' accounts. Customers suffered no financial losses. We cooperated closely and comprehensively with the authorities."[/td]
Ultimately, the majority of the funds were cashed out in Brazil, with a smaller portion in four other unspecified European countries.
Last week, Brazilian police, with the support of the BKA, carried out Operation Klonen. Law enforcement officers conducted searches and seizures based on 21 warrants in seven cities, and four suspects were detained in Rio de Janeiro, Guarulhos, Goiânia, and Carapicuíba.
Investigators now report that, in addition to the four individuals detained in Brazil, three more suspects have been identified in European countries and will be prosecuted in Spain and Bulgaria.
The detainees have already been charged with, among other things, aggravated theft involving wire fraud, participation in a criminal organization, and money laundering.
It should also be noted that during the investigation, it was discovered that one of the defendants ran in the 2024 elections and used part of the stolen funds to finance his political campaign.
A Brazilian Federal Court has ordered the seizure of the suspects' financial assets, vehicles, and real estate worth up to 106 million Brazilian reals (approximately $22.4 million).