Russian Gang Uses Botnets to Automate Check Counterfeiting

Wednesday Jul 28th 2010 by Datamation.com Staff
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Ironically, hackers break into a check fraud prevention system in order to commit check fraud.

The Register: At the Black Hat Security Conference a researcher revealed the details of an old-fashioned check counterfeiting scam with a 21st century twist. Malware researcher Joe Stewart explains that hackers begin by stealing bank account information from online check archiving and verification services that are, ironically, designed to help prevent check fraud. Using e-mail addresses scraped off job boards, they then recruit job seekers to "perform financial transactions for an international company."

Next, “they're able to utilize this high-tech botnet to go out there, get the shipping labels, print them and pay for them with stolen credit cards,” said Stewart. The fake checks are then sent to the job seeker recruits who are instructed to cash them and send a portion of the proceeds back to Russia.

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