Feds Bust Cybercrime Ring
Posted by: TimW on 06/15/2013 11:32 AM
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Eight members of a Ukrainian cybercrime ring were charged this week after Federal officials alleged that they illegally accessed the networks of a number of financial institutions including Citibank, JP Morgan Chase, TD Ameritrade and PayPal, along with the U.S. Department of Defense’s Finance and Accounting Services service, among others.
While primarily based in Ukraine, the ring extended to New York City, Atlanta and two towns on the outskirts of Boston.
From March 2012 to June 2013, the suspects hacked into the servers of banks, secured customers’ information and funneled money from legitimate bank accounts to prepaid debit cards. “Cashers” in the U.S. cashed out the accounts via ATMs and by making fake purchases as part of what the federal complaint (.PDF) refers to as the “Sharapka Cash Out Organization.”
On top of all that, the conspirators also defrauded the IRS by faking tax returns in the names of the identity theft victims. The ring received about $20,000 in fake tax refunds from June to July, 2012.
While primarily based in Ukraine, the ring extended to New York City, Atlanta and two towns on the outskirts of Boston.
From March 2012 to June 2013, the suspects hacked into the servers of banks, secured customers’ information and funneled money from legitimate bank accounts to prepaid debit cards. “Cashers” in the U.S. cashed out the accounts via ATMs and by making fake purchases as part of what the federal complaint (.PDF) refers to as the “Sharapka Cash Out Organization.”
On top of all that, the conspirators also defrauded the IRS by faking tax returns in the names of the identity theft victims. The ring received about $20,000 in fake tax refunds from June to July, 2012.
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