Region of Crete loses €152,000 in sophisticated bank phishing scam

Unknown perpetrators stole approximately €152,000 from the bank accounts of the Region of Crete through a sophisticated phishing scheme. The fraud occurred after employees mistakenly entered their login credentials into a fraudulent website that closely mimicked their banking institution's site.

The attackers utilized a technique known as ‘smurfing’ or fragmentation, executing 55 consecutive transactions of relatively small amounts during the early morning hours. The funds were initially moved to unknown accounts within a Greek bank before being rapidly transferred to various international financial institutions.

The Greek Anti-Money Laundering Authority, led by Charalambos Vourliotis, has been investigating the incident. Through cooperation with foreign agencies, authorities have successfully identified and secured more than half of the stolen funds. The case has been forwarded to the judicial authorities in Crete to facilitate the recovery of the remaining money and the identification of the suspects.