Hackers use network of mobile device emulators to steal millions from online bank accounts

IBM Trusteer researchers have uncovered a massive fraud operation that leveraged a network of mobile device emulators to steal millions of dollars from online bank accounts, making it one of the largest banking frauds ever. Hackers got login credentials for online bank accounts with the help of mobile malware botnet and scaping phishing logs and used the emulators to bypass the banking security measures, that detect fraudulent transactions. Attackers used device identifiers corresponding to each compromised account holder and obtained the device IDs from the infected devices. Read more...