USA announces arrests in $530 million cyber identity fraud scheme


USA announces arrests in $530 million cyber identity fraud scheme

He is alleged to operate a trusted "escrow" or currency exchanging service to ensure transactions between Infraud members, according to the Department of Justice.

An federal indictment unsealed February 7 charged 36 people from Ukraine to Los Angeles on suspicion of large-scale acquisition and sale of stolen identities, compromised credit cards, financial information, computer malware and more.

One advert posted on Infraud's online forum in 2011 claimed to have 795,000 log-ins for British customers of HSBC, the indictment says. At least eight individuals have been arrested internationally and are awaiting extradition to the United States.

"Today's indictment and arrests mark one of the largest cyberfraud enterprise prosecutions ever undertaken by the Department of Justice", said Acting Assistant Attorney General John Cronan.

The Americans involved with Infraud have already appeared in court, and they could face more than 30 years in prison if they're found guilty.

According to the indictment, Infraud members held defined roles within the organisation's hierarchy.

Super Moderators oversaw and administered specific subject-matter areas within their expertise.

A VIP member used the forum to gather information to "facilitate their criminal activities".

The group, it is claimed, is responsible for somewhere between $530m and $2.2bn in losses, related to the compromise of 4.3 million credit cards, debit cards and bank accounts in all fifty U.S. states and beyond America's borders.

U.S. authorities believe as of March 2017 there were 10,901 registered members of the Infraud Organization.

Global law enforcement authorities arrested 13 defendants from the United States, Australia, the United Kingdom, France, Italy, Kosovo and Serbia.

Mr Rybicki told the briefing: "Infraud was truly the premiere, one-stop shop for cyber criminals worldwide".

Those arrested stand accused of multiple crimes including identity theft, bank fraud, wire fraud and money laundering.

The US just took down one of the larger online crime organizations in recent memory - certainly one of the largest prosecuted by the feds.

"This case reflects the alarming and increasing threat posed by cybercrime", Mr Rybicki said.

The City of London Police are credited alongside other global police forces for "siginificant efforts and timely cooperation".



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