Eight Arrested in U.K. for Theft of Over $2 Million from Barclays Bank
A man claiming to be an IT engineer installed a KVM switch on a bank computer, allowing the thieves to transfer funds to accounts under their control.
The U.K. Metropolitan Police Central e-Crime Unit (PCeU) recently announced the arrests of eight men, aged between 24 and 47, in connection with the theft of £1.3 million (approximately $2.08 million) from Barclays Bank (h/t Graham Cluley).
Barclays apparently reported the theft to police on April 5, 2013. After a search, a KVM switch was found attached to a computer at the bank's Swiss Cottage branch, connected to a 3G router. The switch had been installed the day before by a man claiming to be an IT engineer.
According to the police, the bank was able to recover "a significant amount of the monies stolen." In a statement, Barclays managing director for fraud prevention Alex Grant said, "We can confirm that no customers suffered financial loss as a result of this action."
The police said searches were carried out at addresses in Westminster, Newham, Camden, Brent and Essex, where property was seized including cash, jewelry, drugs, and thousands of credit cards and personal data.
"This new and increasing methodology being seen by UK law enforcement demonstrates the rapidly evolving nature of low risk, high financial yield cyber enabled crime," the PCeU said in a statement.