Over 36 million euros were stolen in 2012 from some 30,000 bank accounts in Europe in a cyberattack dubbed “Eurograbber”, according to a report published by two companies that focus on Internet security.

In Spain alone, the cyberthieves stole €5.8 million ($7.5 million) from 11,352 accountholders at seven banks, according to the report from CheckPoint Softward Technologies Ltd. and Versafe.

The attack affected computers and cell phones between January and August of this year, Mario Garcia, General Director of CheckPoint Espana has stated. It was CheckPoint that in August reported the attack to the European police and alerted the affected banks.

Garcia explained the procedure the virus used to invade the banking system: after accessing certain links, the malware installs itself in a computer and remains inactive until the user connects online to their bank account. It is then that the communication of the user with the bank is intercepted and replaced.

The malware, which simulates being a bank, sends a warning to the user about updating and improving online security and asks for their cell phone number, by which it also infects that device and interferes with the messages that banks send as part of the authentication process.

The amounts stolen ranged between €500 and €2,50,000 ($650 and $3,27,000) and were removed from individual and corporate accounts in Italy, Spain, Germany and the Netherlands.