Banking frauds and hacking is a regular thing in the US currently. The provisions of law relating to that are very strict. Recently, a US court sentenced a team of hackers who were behind stealing a $100 Million. Such a vast sum being robbed is not a common thing in the cybercrime world.
Investigations revealed that a particular form of Trojan was used to break into the bank servers. This Trojan was called the GozNym Banking Trojan, which is specially designed for breaking into banking sites and transactions. This Trojan became popular in the US from 2015, and more than 5000 computer systems became victims of it.
The total amount of data and financial damage amounts to more than $100 Million. The Europol, which is highly specialized with its decorated cybersecurity specialists, revealed that these types of attacks could occur frequently. If the servers are not secured and updated periodically, the damage can be fatal.
Accused Sentenced To Five To Seven Years In Prison
Krasimir Nikolov, one of the accused with the Goznym Trojan hacking, will be transferred by Europol to Bulgaria, where he will serve his remaining term in prison. The others charged with the crime will also be sentenced to a couple of years in jail.
The Goznym hacking network was widespread across the European and American countries from more than six years before Europol through its investigations and broke the racquet. The system stayed under the umbrella protection of the “Avalanche,” which was an illegal hacking group, operating from Europe. After the Avalanche was infiltrated by intelligence agencies and the perpetrators were caught, the GozNym hackers became the next target.
It took a while for GozNym hackers to be recognized as they operated through deep covers in Bulgaria and Czechoslovakia. In 2016, a significant breakthrough by Europol helped bring the hacking group to justice. US federal courts took up the matter very seriously, and stringent judgments were given for those accused.