36 in Global Syndicate Charged With $530 Million in Cybercrime Losses
Feb 08, 2018, 09:27
The group worked under the slogan "In Fraud We Trust" and was created in 2010 by Svyatoslav Bondarenko, a 34-year-old Ukrainian, according to the indictment.
"In Fraud We Trust" was the slogan of the Infraud Organization, according to a federal indictment unsealed February 7. It served as an online bazaar that directed potential buyers to a pool of people selling stolen credit card data, social security numbers, and other personal information, as well as malware, hardware, and other wares used to facilitate card fraud. Currently, 13 are in custody the Justice Department said.
Most of the organization, including five out of six of Infraud's leaders, remain at large. Administrators also meted out punishments to members who broke rules and to members of rival criminal groups. Department of Justice officials have filed charges against 36 people allegedly involved with Infraud Organization (no really, that's the name), a global cybercrime ring with roots in the U.S. as well as numerous other countries.
Super moderators on the site "oversaw and administered specific subject matter areas within their expertise", according to U.S. authorities.
In addition to facilitating the sale of stolen information, the network also provided an escrow account people could use to launder their proceeds using digital currencies including bitcoin, Liberty Reserve, Perfect Money and WebMoney.
The Infraud Organization, according to prosecutors, coordinated various flavors of internet fraud including identity theft, bank fraud, wire fraud, and related computer crimes through online forums.
Infraud featured vendors that offered stolen ID, financial and banking information, as well as malware and other illicit goods, the Department of Justice said. He stopped posting on the site in 2015, but was indicted for his alleged role.
The takedown of Infraud - dubbed Operation Shadow Web - was an global effort and the Australian Federal Police was among the law enforcement agencies thanked by the Department of Justice for their role. After that, site co-founder Sergey Medvedev took over; Medvedev has since been apprehended. Below is an organizational chart of those charged.
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