Aussie named in $678M cyber fraud ring investigation

US announces arrests in $530 million cyber identity fraud scheme

US Charges Dozens In Massive Cyberidentity Fraud Scheme

The group allegedly conducted large-scale acquisition, sale, and dissemination of stolen identities, compromised debit and credit cards, personally identifiable information, financial and banking information, computer malware, and other contraband, according to a Justice Department announcement.

The indictment said that among the stolen items advertised were 795,000 HSBC bank logins, dozens of PayPal logins and credentials, and credit card numbers. Another eight have been detained in other countries including Australia, Italy, and Serbia, and await extradition to the US.

The US Department of Justice described the operation as "one of the largest cyber fraud enterprise prosecutions" it had ever undertaken.

"Infraud was truly the premier one-stop shop for cybercriminals worldwide", US Justice Department deputy assistant attorney general David Rybicki told reporters on Wednesday.

Rojas became a member in 2011 and shortly after was promoted to VIP Member status by the organisation's Ukrainian founder, Svyatoslav Bondarenko, according to the indictment.

"We discuss at length the structure of the organisation and the hierarchical organisation that it had in terms of administrators and vendors and other members like Okeakpu who were moderators of certain forums that were featured on the website".

Investigators believe the group's almost 11,000 members targeted more than 4.3 million credit cards, debit cards and bank accounts worldwide, Deputy Assistant Attorney-General David Rybicki said.

Super moderators on the site "oversaw and administered specific subject matter areas within their expertise", according to United States authorities. Reportedly, they hoped to inflict a total of $2.2 billion in damage.

Of the 36 people indicted, 13 have been arrested in the United States, Australia, the United Kingdom, France, Italy, Serbia and Kosovo, the breakaway Serbian province the U.S. has recognized as an independent state. And while there are just five suspects still at large, the actual membership is considerably deeper with 10,901 registered members as of March 2017.

"This case reflects the alarming and increasing threat posed by cyber crime".

Law enforcement has only arrested 13 of the members so far, five of which are from the USA and only one of which (Sergei Medvedev) is considered top brass.

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