DOJ Charges 36 In $530M Fraud Forum Takedown


Officials charge 36 in massive international cybercrime ring takedown

The group's activities resulted in approximately $2.2 billion in intended losses and more than $530 million in actual losses to banks, merchants and private citizens over Infraud's seven-year history, prosecutors said.

Prosecutors say the online forum, whose slogan is "In Fraud We Trust", facilitated sales of personal and credit card information and compromised logins for accounts at financial institutions including HSBC and PayPal, among other illegal wares. The group also provided members services such as laundering proceeds using digital currencies, screening sellers to ensure the quality of vendors of stolen cards, identity information, and other contraband.

Most of the members of Infraud never met in person and only knew one another through their online usernames, he said.

According to USA authorities, the organisation allegedly directed traffic and potential purchasers to the automated vending sites of its members, which served as online conduits to traffic in stolen means of identification, stolen financial and banking information, malware, and other illicit goods.

Mr Rybicki said: "He joined the organisation in 2010 - he was a VIP member, he was promoted to that level by one of the administrators and leaders of the organisation, Svyatoslav Bondarenko".

"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 Cronan.

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

The accused were members of the transnational group the Infraud Organization that went by the slogan "In Fraud We Trust" and engaged in criminal activities including identity theft, bank fraud, wire fraud and computer crimes, United States authorities say.

"This case reflects the alarming and increasing threat posed by cyber crime".

Thirteen people were taken into custody across the globe, including in California, New York and Alabama.

Following the indictment by a USA grand jury alleging racketeering conspiracy and other crimes, federal, state, local, and global law enforcement authorities arrested 13 people from the U.S. and six other countries, including Australia, the United Kingdom, France, Italy, Kosovo and Serbia.

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