Aust man caught in global fraud bust

Acting Assistant Attorney General John Cronan speaks at the daily briefing at the White House in Washington U.S

Federal authorities on Wednesday announced dozens of arrests in connection with a Henderson-based investigation into a global cybercrime ring that allegedly defrauded people around the world of more than $530 million.

The operation to arrest the 13 was carried out by police in Australia, the UK, France, Italy, Kosovo and Serbia.

In a statement, United States investigators claimed the accused were taking part in a massive operation known as the Infraud Organization, which stole and then sold other people's personal information, including credit card and banking information.

"Today's indictment and arrests mark one of the largest cyberfraud enterprise prosecutions ever undertaken by the Department of Justice", Acting Assistant Attorney General John Cronan stated. The group "targeted more than 4.3 million credit cards, debit cards and bank accounts held by individuals around the world and in all 50 states", said David Rybicki, deputy assistant attorney general in the Justice Department Criminal Division, in a statement.

"As alleged in the indictment, Infraud operated like a business to facilitate cyberfraud on a global scale". He remains at large.

The department also alleged that the network provided an 'escrow, ' or third party account, to allow people to launder their money using digital currencies including Bitcoin, Liberty Reserve, Perfect Money and WebMoney. (See Hacker Havens: The Rise of Bulletproof Hosting Environments).

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It offered a marketplace for stolen data such as the sale of credit card data, social security numbers, malware, hardware and tools related to credit card fraud. "Although functionality varies, malware is often used to harvest personally identifying information and financial data, to gather intelligence for later use in a fraud scheme, or to electronically and unlawfully monitor victims". At the organization's top were administrators who collectively controlled its destiny and seeded it with sellers who had a reputation for delivering illicit goods of high quality.

Also Bondarenko remains at large, his Russian co-founder Sergey Medvedev has been arrested.

The indictment ties some of the 36 suspects to the above services.

The Infraud Organization allegedly reaped $US530 million ($A742 million) in losses to U.S. financial institutions, merchants and consumers.

The indictment lists 117 separate acts of criminality from the named Infraud members, including hosting sites storing dumps of credit card, and buying and selling stolen information, including 795,000 HSBC banking logins.

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