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Collective Intelligence Podcast, Episode 5 Carbanak Arrest

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Flashpoint Editorial Director Mike Mimoso talks to director of research Vitali Kremez about the arrest of the leader of the Carbanak cybercrime gang, announced Monday by officials at Europol

Carbanak’s capabilities have been likened to those of a state-sponsored advanced persistent threat (APT) operation. The gang is allegedly responsible for attacks and compromises of more than 100 financial institutions in 40 countries. Losses attributed to Carbanak exceed $1 billion USD, with the group stealing, on average, $10 million USD per heist. 

Mike and Vitali discuss the group’s sophisticated surveillance and reconnaissance efforts in targeting financial institutions worldwide, its well-resourced malware development operation, and how it cashed out and laundered stolen money. Vitali also explains the potential impact on the remainder of the Carbanak gang, as well as other criminal enterprises in the wake of such a high-profile arrest. 

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The Collective Intelligence Podcast, presented by Flashpoint and hosted by Editorial Director Mike Mimoso, features regular interviews with a diverse set of industry experts and Flashpoint analysts on the latest information security news and industry trends.

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About the author: Mike Mimoso

Michael Mimoso brings over a decade of experience in IT security news reporting to Flashpoint. As Editorial Director, he collaborates with marketing, analyst, and leadership teams to share the company’s story. Prior to Flashpoint, Mike was as an Editor of Threatpost, where he covered security issues and cybercrime affecting businesses and end-users.

Prior to joining Threatpost, Mike was Editorial Director of the Security Media Group at TechTarget and Editor of Information Security magazine where he won several ASBPE national and regional writing awards. In addition, Information Security was a two-time finalist for national magazine of the year. He has been writing for business-to-business IT publications for 11 years, with a primary focus on information security.

Earlier in his career, Mike was an editor and reporter at several Boston-area newspapers. He holds a bachelor’s degree from Stonehill College in North Easton, Massachusetts.