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Liberty Reserve arrests are causing 'pain' to criminals
From: InfoSec News <alerts () infosecnews org>
Date: Thu, 30 May 2013 02:28:23 -0500 (CDT)
By Leo Kelion
29 May 2013
The takedown of the Liberty Reserve digital cash exchange has caused
"pain" to criminals who used the facility, according to a leading
Brian Krebs said he had seen comments on crime-linked restricted access
forums suggesting many had suffered "steep losses".
US prosecutors published an indictment against the site's staff on
It says they deliberately helped users "distribute, store and launder
the proceeds of their illegal activity".
Costa Rica-based Liberty Reserve had essentially functioned as a "black
market bank" which had "allegedly processed 55 million separate
financial transactions, and laundered a staggering $6bn [£4bn] in
criminal proceeds", said Preet Bharara, Attorney for the Southern
District of New York, at a press conference.
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- Liberty Reserve arrests are causing 'pain' to criminals InfoSec News (May 30)