Security news
Security news4 April 2007
Suspected phishing mules investigated in Singapore Gang said to have forwarded stolen money to Russia and Latvia
Phishing gangs hire mules to help them steal money from internet users.
Sophos, a world leader in IT security and control, has reminded computer users to be wary of online criminals recruiting people under the guise of money-making opportunities, which in reality are helping phishers move stolen money into overseas accounts.
The warning comes following news that authorities in Singapore are investigating a group of suspected "money mules" who are said to have laundered money for an international crime syndicate to accounts in Russia and Latvia.
According to the Commercial Affairs Department those being questioned applied last year to be transaction managers earning commission for what was claimed to be an international aid agency.
It is alleged that the syndicate's money was sent from Australia to Singapore in batches of 5,000 Singapore dollars through firms such as Western Union. The transaction managers based in Singapore are then said to have forwarded funds to accounts in Russia and Latvia, earning 1,000 Singapore dollars a week in commission.
"It may take time for the police in Singapore to get to the bottom of this particular case, but what is clear is that criminal gangs are interested in hiring people to help them move money around the world," said Graham Cluley, senior technology consultant for Sophos. "Innocent internet users should be on their guard not to get mixed up with what they may think is an innocent business proposition, but actually turns out to be helping phishers steal money from online bank accounts."
If convicted money launderers can receive a maximum fine of 200,000 Singapore dollars (US $131,578) and seven years in jail.
Sophos continues to recommend that computer users ensure their anti-virus software is up-to-date, and that companies protect themselves with a consolidated solution which can defend them from the threats of viruses, hackers, spyware and spam.
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About Sophos
Sophos enables enterprises all over the world to secure and control their IT infrastructure. Sophos's network access control, endpoint, web and email solutions simplify security to provide integrated defenses against malware, spyware, intrusions, unwanted applications, spam, policy abuse, data leakage and compliance drift. With over 20 years of experience, Sophos protects over 100 million users in nearly 150 countries with its reliably engineered security solutions and services. Recognized for its high level of customer satisfaction and powerful yet easy-to-use solutions, Sophos has received many industry awards, as well as positive reviews and certifications.
Sophos is headquartered in Boston, US and Oxford, UK. More information is available at www.sophos.com
