Cyber criminals steal US$530million from dark web forum

Thirty-six people from Infraud Organisation have been charged for being involved in running a cyber crime service responsible for more than US0million of losses.
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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.
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“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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