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Global financial cybercrime sting yields 24 arrests
From: security curmudgeon <jericho () attrition org>
Date: Tue, 26 Jun 2012 17:38:26 -0500 (CDT)


Global financial cybercrime sting yields 24 arrests
By James O'Toole @CNNMoneyTech June 26, 2012: 6:06 PM ET

NEW YORK (CNNMoney) -- Two dozen people have been arrested in the U.S. and 
around the world in a coordinated crackdown on financial cybercrime, 
officials said Tuesday.

The suspects, collared after a two-year investigation dubbed "Operation 
Card Shop," allegedly stole credit card and banking data and exchanged it 
with each other online.


Over the course of the operation, the FBI notified credit card providers 
about more than 411,000 compromised credit and debit cards. The U.S. has 
an estimated 1 billion payment cards in circulation.

The FBI claims to have prevented an "estimated" $205 million in losses, 
though that theoretical number is almost impossible to link back to 
real-world losses.

Agents also tipped off 47 companies, schools and government offices whose 
networks were breached, the U.S. Attorney's office said.
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