Tax refund fraud is a growing crime that costs the federal government billions each year. Eleven members of an identity fraud ring responsible for millions in fraudulent tax refunds were recently arrested in South Florida, an area where identity theft and tax refund fraud are significantly higher than the national average. Read More
Orchestrated Global Attacks Steal $11 Million with Prepaid Card ATM Withdrawals
In a highly organized and orchestrated attack, money mules across the world cashed out prepaid debit cards withdrawing millions of dollars from ATMs after sophisticated hackers first increased or removed daily withdrawal amount limits on these cards. Read More
Microsoft and Symantec Shutdown Massive Botnet
The Bamital botnet, assembled by an organized group of fraudsters to commit click fraud, infected hundreds of thousands of computers but has recently been shut down as authorities have seized servers and pulled others offline following a collaborative investigation by Microsoft and Symantec. Read More
Organized Fraud Ring Obtained Credit Cards, Increased Credit Limits with Fake Identities Stealing $200 Million
Eighteen members of a sophisticated fraud ring operating out of New Jersey were arrested in early February for their massive scam creating thousands of fake identities, obtaining credit and increasing credit limits for the fake identities, and then cashing in with a bust-out attack. The Department of Justice has documented $200 million in losses and
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U.S. and Canadian Authorities Arrest Members of Identity Theft and Card Fraud Rings
Canada’s Regional Fraud Bureau along with Canadian police departments and the U.S. Secret Service carried out a raid on suspected identity fraud rings which resulted in five arrests, over 300 fraud-related charges as well as the confiscation of equipment used for making counterfeit cards and hundreds of thousands of dollars in counterfeit U.S. currency. Read
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Organized Fraud Attack Compromised Merchant POS Systems with Malware
Two men from Romania were extradited to the United States last May after being accused of running a fraud operation that installed malware on point-of-sale computers attacking hundreds of merchants, although mainly Subway restaurants, from 2009 to 2011. In late September the two men plead guilty to multiple charges and will each face time behind
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Japanese Fraud Ring Members Arrested for Malware Scam
Six members of a Japanese fraud ring were arrested by police after distributing malware that rendered a victim’s computer unusable until payment was received. This type of malware, similar to scareware, has been referred to as ransomware and one-clickware. Read More
Expect Fraud Rings to Focus More on Skimming This Year
According to some security experts fraud resulting from card skimming will further increase in 2012 as fraud rings continue to exploit the magnetic-stripe. Read More
50 Arrested in Identity Fraud Ring
An investigation by U.S. Immigrations and Customs Enforcement has led to the arrest of fifty individuals for their involvement in a massive identity theft ring that sold hundreds of U.S. identities on the black market. Read More
Identity Fraud Ring Hijacked Consumer Retail Credit Accounts
An investigation by the New York Attorney General led to the arrest of seven in an identity fraud scheme where the fraudsters impersonated consumers at retail stores in attempts to take over their store credit card accounts, the fraudsters have been accused of operating this scam since at least 2008. Read More
