Corrupt Barclays banker helped gang launder £16m for Eastern European cybercriminals

A “corrupt banking insider” working for Barclays, along with four other men, have admitted laundering at least £16m ($21m) for a gang of international cybercriminals.

Between 2013 and 2016, the group used roughly 400 bank accounts in a conspiracy that involved receiving stolen money into one account and then dispersing it into smaller sums across multiple other accounts, the National Crime Agency (NCA) said Tuesday (19 September).

The process, investigators found, would be repeated several times – to disguise the source of the money – before being sent back to cybercriminals.

The hackers were reportedly traced back to a location in Eastern Europe, which has not been revealed.

Source: InternationalBusinessTimes

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