Two dozen arrested in online financial fraud sting, officials say

[Shadow]

The FBI has been busy lately...

NEW YORK – Two dozen people on four continents have been arrested in an elaborate sting targeting a black market for online financial fraud, federal officials in New York said Tuesday.
U.S. officials called the crackdown in United States, Europe, Asia and Australia the largest enforcement effort ever against hackers who steal credit card, bank and other information on the Internet -- a practice known as "carding."
The officials claimed the two-year FBI sting protected more than 400,000 potential victims and prevented losses of around $205 million.
The arrests "cause significant disruption to the underground economy and are a stark reminder that masked IP addresses and private forums are no sanctuary for criminals and are not beyond the reach of the FBI," Janice Fedarcyk, head of the FBI's New York office, said in a statement.
According to a criminal complaint unsealed on Tuesday in federal court in Manhattan, the suspects bought and sold hacking programs and stolen information via secure websites.


Read more: http://www.foxnews.com/us/2012/06/26/two-dozen-arrested-in-online-financial-fraud-sting-officials-say/#ixzz1yx7DMiTj

[Tyr-Ziu Saxnot]

The FBI has been busy lately...

NEW YORK – Two dozen people on four continents have been arrested in an elaborate sting targeting a black market for online financial fraud, federal officials in New York said Tuesday.
U.S. officials called the crackdown in United States, Europe, Asia and Australia the largest enforcement effort ever against hackers who steal credit card, bank and other information on the Internet -- a practice known as "carding."
The officials claimed the two-year FBI sting protected more than 400,000 potential victims and prevented losses of around $205 million.
The arrests "cause significant disruption to the underground economy and are a stark reminder that masked IP addresses and private forums are no sanctuary for criminals and are not beyond the reach of the FBI," Janice Fedarcyk, head of the FBI's New York office, said in a statement.
According to a criminal complaint unsealed on Tuesday in federal court in Manhattan, the suspects bought and sold hacking programs and stolen information via secure websites.


Read more: http://www.foxnews.com/us/2012/06/26/two-dozen-arrested-in-online-financial-fraud-sting-officials-say/#ixzz1yx7DMiTj

Good, hope they shoot 'em. I hate hackers and virus creators/attackers. -Tyr

[Shadow]

I can really appreciate this too. My CC info has been stolen 3 times in the last 3 years. Lock em up and throw away the keys. :thumb:

[Tyr-Ziu Saxnot]

I can really appreciate this too. My CC info has been stolen 3 times in the last 3 years. Lock em up and throw away the keys. :thumb:

Shoot 'em , less costs to the taxpayers.-;)

[ConHog]

Shoot 'em , less costs to the taxpayers.-;)

and completely constitutional, what a great American you are. :salute:

[Shadow]

Shoot 'em , less costs to the taxpayers.-;)

Death by firing squad. Or fire ants even.:thumb:

Then Dillo can burn their house down. :)

[mundame]

There is no question in my mind that credit card fraud is increasing radically. I had to get a new card twice in two months this spring. That was the same time we were involved somehow in a scam or hacking "ghost in the machine" in which a phone number we never had repeatedly dialed 911 and sent police deputies to our house --- twice in the dead of night. I have wondered since if it was that "swatting" that's going on, since both Himself and I are on political forums.

Otherwise I've had to get a new card every year --- multiple charges for gambling sites, eBay fraud, etc. How banks absorb all that, I don't know.

[Mr. P]

There is no question in my mind that credit card fraud is increasing radically. I had to get a new card twice in two months this spring. That was the same time we were involved somehow in a scam or hacking "ghost in the machine" in which a phone number we never had repeatedly dialed 911 and sent police deputies to our house --- twice in the dead of night. I have wondered since if it was that "swatting" that's going on, since both Himself and I are on political forums.

Otherwise I've had to get a new card every year --- multiple charges for gambling sites, eBay fraud, etc. How banks absorb all that, I don't know.

They don't, their customers do through FEEs for what must be paid..the rest is never paid. That's my opinion anyway.

[Shadow]

There is no question in my mind that credit card fraud is increasing radically. I had to get a new card twice in two months this spring. That was the same time we were involved somehow in a scam or hacking "ghost in the machine" in which a phone number we never had repeatedly dialed 911 and sent police deputies to our house --- twice in the dead of night. I have wondered since if it was that "swatting" that's going on, since both Himself and I are on political forums.

Otherwise I've had to get a new card every year --- multiple charges for gambling sites, eBay fraud, etc. How banks absorb all that, I don't know.

Probably through fees like Mr P said. They dole out plenty too,since they have to reimburse most folks. And don't expect much help from law enforcement either. They will only attempt to investigate fraudulent chages if it exceeds $2000.00.

[fj1200]

They don't, their customers do through FEEs for what must be paid..the rest is never paid. That's my opinion anyway.

Have you ever seen a "fraud fee"? More likely they have an accrual account where they build up reserves to write off those expenses similar to default risk on loans. Customers/shareholders do pay though.

[darin]

CH removed from thread for provoking; off-topic drama BS.