European authorities bust cybercrime gang that hijacked business payments

Police in several European countries arrested 49 suspected members of a gang they say broke into corporate email accounts, using them to divert payments from business customers.

The gang operated in Italy, Spain, Poland, the U.K., Belgium and Georgia, according to Eurojust and Europol, the two agencies that coordinated and provided support to the police operation on the ground.

The gang’s members, who were mainly from Nigeria, Cameroon and Spain, used malware and social engineering to compromise the computers of various large European companies. They then gained access to corporate email accounts and monitored them for payment-related communications from customers.

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