14 DAY TRIAL // December 8 was a good day for the UK Metropolitan Police Service's (MPS) Police Central e-Crime Unit (PCeU) since they managed to apprehend six people suspected of running a massive phishing operation that targeted hundreds of UK students.
The alleged cybercriminals managed to earn more than £1million ($1.5 million or 1.2 million EUR) by launching student government loan schemes. The individuals sent out phony emails inviting victims to update student loan accounts.
Since the website they were taken to was designed to resemble very much a legitimate site, many unsuspecting students fell for the scam and provided the crooks with a large part of sensitive information they could use to illegally access bank accounts.
Once the phishers obtained the data, they would retrieve sums of money that were as high as £5,000 ($7,800 or 5,800 EUR)
“A great deal of personal information was compromised and cleverly exploited for substantial profits. We have today disrupted a suspected organised group of cyber criminals and prevented further loss to individuals and institutions in the UK. Today's arrests demonstrate what can be achieved when a partnership approach is adopted to investigate internet based crime,” said Detective Inspector Mark Raymond from the PCeU.
The suspects, aged between 25 and 49, were arrested in different locations spread across the United Kingdom.
Back in September, I documented a similar phishing scam that was targeting the loan accounts of students and judging by the information provided by the Met Police, it may have very well been part of the operation run by the individuals apprehended by law enforcement officials.
Internet users are always advised to stay clear of emails that require personal data, especially if bank accounts are involved. While a good security solution can always make a difference, awareness is equally important when it comes to defending assets against cybercriminal operations.