FBI arrests 24 in internet credit card fraud ring

[Jack]

Sophos wrote:The US Federal Bureau of Investigation announced today the arrest of 24 individuals and charges against 4 more who remain at large resulting from a two year long investigation into credit card and ID theft conducted through internet forums.

Criminals who steal credit cards and trade them online are known as "carders" to those of us in the information security space. The FBI setup a carder message forum in 2010 in an attempt to get the inside track on who was involved, and from whom they had stolen the information.

Over the last 24 months they were able to obtain enough evidence to press charges against these 28 individuals including 13 from the USA, 6 from the UK, 2 from Bosnia, 1 from Bulgaria, 1 from Norway, 1 from Germany and 2 others from undisclosed locations.

The FBI estimates it has prevented more than $205 million in fraudulent transactions and alerted card issuers of over 411,000 compromised credit and debit cards. Through the intelligence gained during its investigation it also notified 47 companies, government organizations and educational institutions that they had been compromised.

Read more : http://nakedsecurity.sophos.com/2012/06/...2Bsecurity