Infraud: US takes down worldwide identity theft ring

Infraud: US takes down worldwide identity theft ring

"Over the course of the Infraud Organization's seven-year history, its members targeted more than 4.3 million credit cards, debit cards and bank accounts held by individuals around the world and in all 50 (US) states".

Police say they've shut down a major underground internet forum that helped cybercriminals steal over $530 million from victims.

The US Justice Department announced one of its largest-ever take downs of a global cybercrime ring. The global cybercrime group, known as the Infraud Organisation, acquired, sold and disseminated identities, compromised debit and credit cards, personally identifiable information, financial and banking data, malicious malware and other contraband via an online discussion forum.

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"Like most organized transnational criminal enterprises, Infraud's members had defined roles within the organization's hierarchy", he added. Its tagline: In Fraud We Trust.

The underground forum, accessible on the dark web, had 10,901 registered members as of March 2017. "Its members allegedly caused more than $530 million in actual losses to consumers, businesses, and financial institutions alike - and it is alleged that the losses they meant to cause amounted to more than $2.2 billion".

The site directed potential buyers to the automated vending sites of other members who possessed stolen financial, banking, or personal identification data, malware, or other illicit goods.

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VIP Members and Members used the Infraud forum to gather information and to facilitate their criminal activities.

The senior administrators continuously screened the products and services of vendors "to ensure quality products", said the indictment. UK-based Anthony Nnamdi Okeakpu, 29, who allegedly joined in December 2010 and went by the monikers "moneymafia" and "Shilonng". It's not clear whether the department will seek extradition for those arrested outside of the United States, but given that the charges were lodged in a Las Vegas court, it's highly likely it will. He stopped posting to the forum in 2015. That service was run by Infraud co-founder Sergey Medvedev, as per the indictment. Medvedev has been arrested.

Department of Homeland Security agents coordinated with law enforcement around the globe, including officials in Albania, Australia, France, Italy, Kosovo, Serbia, and the United Kingdom, according to Rybicki. Below is an organizational chart of those charged.

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