European police take down suspected cyber ring

European police have arrested 49 suspected members of a major cyber crime ring spanning Spain, Portugal and Italy, Reuters reported.

The group is suspected of orchestrating the digital theft of millions of euros from European bank accounts, Europol said.

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Apparently, the group used phishing attacks, or fake emails laden with malicious software, to gain access to people’s bank accounts.

"Within a very short time,” Europol said, the group had piled up “international fraud totaling 6 million euro.”

Overall, the police raided 58 locations as part of its investigation.

The suspects are mainly from Nigeria and Cameroon, police said. They allegedly transferred the ill-gotten profits outside of the European Union using various money laundering tactics.

Police have been making efforts to bolster international cooperation on cyber crime, which frequently spans numerous countries.

Last fall, federal officials from the U.S. and 16 European countries jointly revealed a massive operation against hundreds of dark market websites, seizing the forums that sold anything from stolen credit card data and counterfeit currency to narcotics and firearms.