Four charged with mobile banking fraud
Print Edition
FOUR fraud suspects are pending trial accused of stealing 1.8 million yuan (US$260,000) from seven personal bank accounts, Huangpu District People’s Court said yesterday.
District police started an investigation in September, 2015, when a local resident surnamed Ding reported to his loss. Ding lost about 105,000 yuan to the gang, the court said.
With illegally acquired information of the victims’ mobile phone and bank card numbers and the corresponding passwords of the accounts, the suspects allegedly took advantage of China Telecom’s “SMS storage” service and managed to stealthily siphon the money from the victims’ accounts.
In Hainan Province, where the suspects were based, China Telecom users can apply for the service which helps store their SMS messages in a cloud server. The suspects allegedly called from victims’ phone numbers with camouflage software to apply for the service which enabled them to receive bank verification codes and then transferred money to their own accounts.
The court said the gang ran password matching software on a rented server and from myriad personal data sorted out those which were valid.
In a raid on the suspects in Danzhou city in Hainan, Huangpu District police found over nine million items of personal data in their storage devices.
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