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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)

http://www.bbc.co.uk/news/technology-22699871

By Leo Kelion
Technology reporter
BBC News
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 security expert.

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 Tuesday.

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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