Published: Thu, February 08, 2018
Markets | By Erika Turner

US Prosecutors Charge 36 Suspects in Global Cybercrime Ring

US Prosecutors Charge 36 Suspects in Global Cybercrime Ring

Investigators believe the group's almost 11,000 members targeted more than 4.3 million credit cards, debit cards and bank accounts worldwide, Deputy Assistant Attorney General David Rybicki said.

David Rybicki, deputy assistant attorney general of DoJ's Criminal Division said the forum coordinated a variety of criminal acts online including "identity theft, bank fraud, wire fraud, and computer crimes".

They ranged from the "administrators" who oversaw the organization's strategic planning and approved membership, all the way down to the "members" who used the Infraud forum to facilitate their criminal activities.

During its seven years in operation, Infraud inflicted about $2.2 billion in intended losses, prosecutors said.

USA officials said the suspects called their enterprise the Infraud Organization and operated under the slogan "In Fraud We Trust".

It is, in other words, a carding group that peddles lists of stolen credit and debit card data - pilfered from servers, vendor databases, and payment terminal hardware - and serves as an educational resource for tricks of the trade.

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In addition to facilitating the sale of stolen information, the department also alleged the network provided an escrow (temporary third-party) account so people could launder their proceeds using digital currencies including Bitcoin, Liberty Reserve, Perfect Money and WebMoney. The leadership routinely policed forums for "rippers", or those who peddled poor-quality goods and services.

In 2011, alleged founder Svyatoslav Bondarenko allegedly forbade members from buying and selling contraband belonging to victims residing in Russian Federation.

Ukranian national Svyatoslav Bondarenko started Infraud in 2010. He stopped posting on the site in 2015, but was indicted for his alleged role. The Met also said they had not made any arrests.

"Okeakpu was promoted to VIP member status in April 2014".

The Justice Department on Wednesday announced the racketeering conspiracy along with the arrest of 13 people, eight of whom the government will seek to extradite from Australia, the U.K., France, Italy, Kosovo and Serbia.

Update: Added the organizational chart and details on arrests.

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