14 DAY TRIAL // An investigation conducted by the Police Central E-Crime Unit (PCeU) resulted in the conviction of two Ukrainians who are suspected of stealing $4.7 Million (3.3 Million EUR) with the help of a Trojan which gave them access to the bank accounts of victims.
Yuriy Konovalenko and Yevhen Kulibaba were each sentenced to almost five years in prison after pleading guilty to conspiracy to defraud. Besides the two, 13 other individuals were jailed for their implication in the international online fraud.
Operation Lath revealed a well-organized group which used bank account-stealing malware that was spread on the devices of unsuspecting internauts. By retrieving usernames, passwords and account numbers, the criminals were able to transfer money from the victims to their own accounts.
Even though 33-year-old Kulibaba was based in Ukraine, with the help of UK accomplices, he managed to coordinate all the illegal transactions that made sure the funds were removed and carefully split into multiple accounts to prevent detection.
PceU closely collaborated with UK banks, the FBI and the US Department of Justice to put an end to the operation that left many people without their life saving.
The total number of individuals involved seems to be much higher but for now, only the ones mentioned earlier were jailed.
“These defendants were part of an organised network of computer criminals operating a state-of-the art international online banking fraud, through which they stole many millions of pounds from individuals and businesses in the UK and United States, said DI Colin Wetherill, from the Metropolitan Police Central eCrime Unit.
“The investigation involved unprecedented levels of cooperation between the Metropolitan Police, the UK banks, the FBI and other UK and international law enforcement agencies. We are working hard to reduce the harm caused by these activities, to put fear into the minds of those contemplating these conspiracies and to bring such offenders to justice.”