Online Fraudsters Filch $217,000 Out of Nebraska Qwest Center

According to the KrebsonSecurity reports dated August 16, 2011, online-thieves, during July 2011, got away with $217,000 from MECA (Metropolitan Entertainment & Convention Authority) an organization that runs on no-loss-no-profit basis and handles the operation of Qwest Center as well as other get-together areas in Omaha, Nebraska (USA).

To begin, the miscreants dispatched one rigged e-mail carrying an attachment with malware for stealing passwords to an official at MECA.

And when they invaded the PC-network of MECA as also managed reaching the online banking details of the organization, they commanded 6 unwary hired mules for allowing the fake funds deals as also assisting in conducting money-laundering.

Lea French Chief Financial Officer at MECA stated that seemingly the criminals knew about the organization's system of salary payment, so they immediately created some fraudulent transfers. KrebsonSecurity reported this.

Furthermore, the criminals, with the banking credentials, included 6 more individuals into MECA's payroll although these persons weren't ever related to the organization. Accordingly, money-mules were formed who accepted fake funds transfers from the financial account of MECA as also aided the criminals in laundering money.

Here, Brian Krebs a security researcher states that the cyber-thieves lied to the mules that the latter were assisting software engineers of the organization working abroad for some American businesses, get their remunerations. SecurityNewsDAILY published this on August 16, 2011.

Meanwhile, according to French, MECA was offered certain security measures that the organization declined, however, had it deployed those measures the current situation wouldn't have arisen. She added that adopting the security measures might've burdened administration, while she was more concerned of insider issues instead of anyone breaking into her organization's network.

Now, the money filched out of MECA's coffers were transmitted into the bank accounts of the money-mules who were employed via dubious offers for work-from-residence jobs while belonging to the "Back Office Group" recruitment gang of mules.

Fortunately, MECA could undo at least one illegal funds transfer valuing $147,000; however, by the time it figured out the theft's range, much water had flowed. French wishes she'd realized earlier simply how much MECA remained susceptible to the said kind of advanced online-attack.

Related article: Online Card Fraud Shows Greater Tendency Than Chip and Pin

» SPAMfighter News - 8/25/2011