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Cyber criminals steal US$530million from dark web forum

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Thirty-six people from Infraud Organisation have been charged for being involved in running a cyber crime service responsible for more than US$530million of losses.

The organisation is said to have engaged in ID theft, bank fraud, stolen credit cards and passwords from a forum on the dark web which has 10,901 registered members.

The US Department of Justice announced 13 of the suspects are in custody.

“As alleged in the indictment, Infraud operated like a business to facilitate cyber fraud on a global scale,” said acting assistant attorney general John Cronan of the Justice Department’s Criminal Division to the BBC. 

“Its members allegedly caused more than US$530million in actual losses to consumers, businesses, and financial institutions alike – and it is alleged that the losses they intended to cause amounted to more than US$2.2billion.”

Businesses affected also included PayPal and HSBC.

Written by Leah Alger

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