More than 150,000 euros were stolen from bank accounts belonging to a service of the Region of Crete after employees entered their login credentials on a fraudulent website designed to resemble the financial institution they used, according to Greek Police’s financial and economic crime unit.
The case is being investigated by the national Anti-Money Laundering Authority, headed by former top Supreme Court prosecutor Charalambos Vourliotis, after the perpetrators transferred about 152,000 euros through 55 consecutive transactions carried out within a few early morning hours.
The transactions involved relatively small amounts each, a technique known as fragmentation or “smurfing,” and the money was initially transferred to accounts held by unknown individuals at a Greece-based bank.
The perpetrators then rapidly moved the funds from those accounts to other accounts held by unknown beneficiaries at financial institutions in several countries abroad, according to the authority.
An immediate investigation enabled the authority, working with foreign counterpart agencies, to trace and secure more than half of the stolen funds so far. The investigation is continuing in an effort to recover a larger portion of the proceeds and fully identify those responsible.
The case began when unknown perpetrators gained control of the bank accounts of a service of the Region of Crete after employees had previously entered their access credentials on a website that closely imitated the bank with which the service maintained its accounts.
The incident is the latest example of increasingly sophisticated fraud schemes in Greece in which criminals exploit trusted institutions and convincing digital replicas to obtain financial or personal information. In June, Greek police warned about a fake website that closely copied their official website and sought banking details under the pretext of collecting non-existent traffic fines.
A similar “phishing” campaign reported in August used convincing fake government websites and text messages to persuade drivers to pay supposedly discounted traffic fines, while a separate telephone scam involved criminals impersonating police officers and attempting to obtain personal or banking information through automated calls.
The latest case differs in that the fraudulent website was used to obtain access credentials to institutional bank accounts, allowing the perpetrators to move a substantial sum through multiple transactions and then rapidly transfer the proceeds overseas.
Source: tovima.com
