Threat Management

Hacker indicted for brokerage hacks, fraud

Department of Justice

The U.S. Justice Department has filed charges against Idris Dayo Mustapha for engaging in various cybercrime activities over a seven-year period, most of which targeted financial institutions and brokerage companies across the U.S., and resulted in more than $5 million in losses, BleepingComputer reports.

Numerous schemes aimed at securing unauthorized U.S.-based email server access have been performed by Mustapha and one or more Lithuanian co-conspirators since 2011 as they sought to exfiltrate email account credentials, which will be later used for compromising bank and brokerage platforms, according to the Justice Department. Financial firm employees were then subjected to social engineering attacks to facilitate wire transfers to bank accounts overseas, while Mustapha had directly accessed brokerage accounts."

The defendant was part of a nefarious group that caused millions of dollars in losses to victims by engaging in a litany of cybercrimes, including widespread hacking, fraud, taking control of victims securities brokerage accounts, and trading in the name of the victims," U.S. Attorney Breon Peace said.

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