US Takes Down Huge Online Global Fraud Ring Organization of More than 10,000 Participants

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According to the US Justice Department, 36 perpetrators have been identified and connected to a global cyber scam that has succeeded in stealing funds over a span of seven years. The international cybercrime party that has been linked to an array of perpetual online theft is known as the Infraud Organization.

Through their illegal activities, they have caused an uproar of highly destabilizing crimes including the hijacking of credit and debit cards, banking and financial data institutions, malicious software and as well as contraband all through an intricate network of communication through an online discussion forum. This has put a massive strain on people’s personal lives as many have had their personal identities stolen and promulgated by other parties.

Discreetly hiding under the guise of their motto “In Fraud We Trust” as well as being advertised as an “inaugural destination for carding”, the Infraud Organization has maintained a steady peak of criminal endeavors that included the likes of one participant who has gone by the nicknames of “Rector”, “Helkern”, and “Obnon”. This Ukranian citizen, Svyatoslav Bondarenko, has utilized the dark web to launch this mission back in October of 2010. The indictment was filed and later unsealed on Wednesday, February 7.

Sergey Medvedev is the co-founder of this service ran by Infraud. Authorities have commented in response to these acts, “These vending sites have provided services such as escrow to enable these illegal digital transactions among their members.

They have usurped screening orders that allowed for more efficient quality sellers to take part in stolen identities, card theft, and various other types of contraband.” Some of the victims involved in the case were PayPal members who totalled about 1,300 since 2011 up until 2014 as well as 795,000 bank accounts for HSBC.

The Infraud Organization were highly organized in terms of structuring their workforce leaders. Some of these positions included moderators, administrators, sellers, VIP and other members. The total number of members reached a total of more than 10,900 by March 2017. Throughout their 7-year term of active service, the team netted a $530m total in profit stolen from various money institutions and other consumers on a global basis.

Many have been arrested on a global scale including countries such as Australia, Italy, France, UK, Serbia and Kosovo and 13 of those people were arrested in the US. A 29-year-old, Anthony Nnamdi Okeakpu from the UK, went by the nickname of “moneymafia” and “Shilonng” joined in the month of December 2010. The suspects may face up to 30 years of imprisonment and some may even need to be extradited back to the US.

In April of 2016, Medvedev became the sole “owner and admin” of the Infraud Organization after Bondarenko had gone missing, says the Justice Department. It´s unknown whether the data from Equifax breach had been sold. The Justice Department also responded by saying that this was “one of the most massive cyber fraud prosecutions ever in history”, says Assistant Attorney General John Cronan.

He also says that the Department of Justice “will not allow for these online criminals get away with taking advantage of the internet perceived privacy for their heinous acts. We will work closely with all international officials to fully investigate and identify all the perpetrators involved.”