Home Posts tagged "fraud ring"
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Largest Credit Card Fraud Scheme Uncovered by U.S. Justice Department Highlights Importance of Authentication in Preventing Identity Fraud

A fourth defendant plead guilty in early August to his participation in an identity fraud scam where over 7,000 false identities were created being used to obtain credit cards and lines of credit and ultimately causing $200 million dollars in fraud losses. Lack of proper identity authentication checks allowed the fraudsters to reuse addresses and

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Eleven Florida Identity Tax Return Fraud Ring Members Arrested

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

 
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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

 
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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

 
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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

 
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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

 
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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

 
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