● Covered by 2 sources · 2 reportsMedium impact2 neutral
Seven Arrested in €30M Commerzbank Fraud Exploiting Service Provider Flaw
Key points
- Seven individuals arrested in Brazil and Europe.
- Fraud involved €30 million in unauthorized withdrawals.
- Exploited a vulnerability in a payment service provider.
- Commerzbank customers were impacted in November 2023.
- Commerzbank states customers experienced no financial loss.
International Arrests Made in Bank Fraud Case
Four cybercriminals were arrested in Brazil, and three others were charged in Europe, following an international investigation into a €30 million bank fraud. The arrests were made as part of Operação Klonen (Operation Clone), which involved Brazilian and German federal police agencies.
Exploitation of Service Provider Vulnerability
The fraud occurred over four days in November 2023. The perpetrators exploited a vulnerability in a payment service provider's system, which allowed them to make numerous unauthorized direct debits from German online banking users' accounts. Brazilian authorities indicated that cloned payment cards were involved in the process.
Commerzbank Confirms Impact
While police agencies did not initially name the affected bank, Brazilian media identified it as Commerzbank. Commerzbank confirmed that its clients were impacted by the fraudulent activity. A spokesperson stated that the fraud case dates back to 2023 and was due to technical issues at a service provider.
No Financial Loss for Customers
Despite the €30 million in unauthorized withdrawals, Commerzbank stated that its customers suffered no financial losses. The bank cooperated with authorities during the investigation.
Money Laundering Network
After the unauthorized withdrawals, the criminals moved and laundered the funds through networks established in Brazil and four European countries, according to police reports.
✨ This summary was generated by AI from the outlets' reporting listed below. It is not independently verified and may contain errors — check the original sources. How BrevFeed works →
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How outlets covered it
German and Brazilian authorities arrested seven individuals in connection with a late 2023 hack that drained an estimated €30 million from German bank accounts. The arrests are part of an international investigation into the exploitation of a payment provider vulnerability and subsequent money laundering.
Four individuals were arrested in Brazil and three others charged in Europe for their alleged involvement in a €30 million bank fraud. The group exploited a vulnerability in a service provider's system, leading to unauthorized withdrawals from Commerzbank customer accounts in November 2023.