Wireless hacker was bank insider

A 26-year-old man has been arrested in Finland after he allegedly hacked into an online bank account and stole €200,000 ($244,000) from his company.

The unnamed man is believed to be the head of data security at the Helsinki branch of financial services company GE Money. According to Finnish newspaper Helsingin Sanomat, the man is one of four men arrested in connection with the theft, which took place in June.

It is alleged that he copied the bank's software and passwords onto a company laptop. Along with two accomplices, he accessed an online bank account using a neighbor's unprotected wireless network in order to cover their tracks. The gang then transferred the money into a separate corporate account.

Initially, suspicion fell on the owner of the wireless network until a search of his apartment in the city's Kallio district by local police determined that he was not involved in the robbery. A search through logs revealed a MAC address of a laptop belonging to GE Money. The investigation then shifted to the bank's security officer and he was arrested shortly after police established a link between the laptop and the suspect.

According to the report, a fourth gang member was arrested when attempting to withdraw €5000 ($6,110) from their account. Police said they have recovered the stolen funds. Prosecutors are expected to press charges next week.

Last month SC Magazine reported that a man had been successfully tried as the U.K's first conviction for using someone else's wireless connection.

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