Europol arrests gang members involved with ransomware

by: Dynasty GI2021-10-07
Europol, the agency for cross-border police activities in Europe, has announced it arrested two people in Ukraine involved with ransomware attacks. The arrests are part of a crackdown on organised cybercrime gangs targeting businesses in Europe and North America.
Europol didn’t name those arrested or the kind of ransomware they deployed, but it stated that the alleged criminals charged their victims from as little as €5 to up to €70 million to decrypt files contaminated by them. The action by Europol also involved enforcement agencies in Ukraine, France, the US and Interpol.
"“As the world becomes increasingly connected, authorities will need to develop better laws and better law-enforcement to deal with cybercrime, so that the digital economy does not fall prey to organised gangs”, remarked Eduardo Carvalho, founder and CEO of Dynasty Global Investments AG."
Ramsonware gangs operate by contaminating computer systems with encrypted bugs that they control, charging a fee to release the computer back to the owner. As most Eastern European countries lie outside international cybersecurity agreements, the region has become a focal point for cybercriminals, including gangs specialised in ransomware.

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