Hackers and criminals empty Commerzbank customer accounts
Criminals emptied the accounts of more than 100 customers of Germany's Commerzbank. “In some individual cases at a service provider unauthorized debits have occurred on customer accounts for technical reasons ,” said the spokesperson of the second largest German private bank, according to the “Finanz-Scene” portal . The scam is a mix of computer hackers and real traditional scammers, with a huge loss of tens, if not hundreds, of millions of Euros.
“ Affected customers have been or will be informed by us. ” The reservations would be corrected by the bank. “ There is no harm to customers ”. Illegal charges are frauds linked to the poor nature of the bank's IT system, God forbid they will be charged to customers!
According to financial circles, the criminals withdrew a large sum, in the order of tens of millions, from a number of accounts with hundreds of millions in deposits. Apparently they used Maestro withdrawal cards
Maestro is a function of the US payment group Mastercard for foreign payments. On the cards the Maestro function is represented with two circles one above the other, one red and one blue. Maestro assures you that you can also pay with debit cards at cash registers in other European countries. Maestro is simply the implementation of existing credit card structures for debit card payments.
Visa, Mastercard's competitor, also offers a foreign payments feature. It's called V-Pay. The technical term for Maestro and V-Pay is “Co-Badge”. Commerzbank Co-Badge debit cards are operated by Bank-Verlag, which was the weak point in this financial and IT scam. the division confirmed that it had become “a victim of a fraud case involving Maestro payments.”
“ The security gap was closed within the internal control system immediately after the discovery of the fraud case by the bank's publisher ,” explains the bank's publisher.
Commerzbank has almost eleven million customers in the private client sector. Of these 2.9 million are attributable to the online branch Comdirect, 6.2 million are private customers of Commerzbank. Then there are 900,000 traders and 600,000 managed savings customers.
It's not a good time for German banks. Yesterday the news came out that Deutsche Bank will lose 350 million US dollars due to a bad real estate investment.
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The article Hackers and criminals empty the accounts of Commerzbank customers comes from Scenari Economici .
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/hacker-e-criminali-svuotano-i-conti-dei-clienti-della-commerzbank/ on Wed, 22 Nov 2023 13:05:46 +0000.