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“This is the American Express Fraud Department” – Two Dozen Carders Arrested on 4 Continents June 26, 2012

Posted by Chris Mark in cybersecurity, Industry News.
Tags: , , , , , , , , , ,

Lnight my wife received an email about a suspcious transaction on our Amex card.  Turns out it was a fraudulent transaction and my wife’s card had been stolen.  I was writing a blog post on this very subject when a Google alert informs me of this article on Foxnews.  “Two Dozen Arrested in Online Financial Fraud Sting”.  According to the article:  “Two dozen people on four continents have been arrested in an elaborate sting  targeting a black market for online financial fraud, federal officials in New  York said Tuesday.

U.S. officials called the crackdown in United States, Europe, Asia and  Australia the largest enforcement effort ever against hackers who steal credit  card, bank and other information on the Internet — a practice known as  “carding.”   The officials claimed the two-year FBI sting protected more than 400,000  potential victims and prevented losses of around $205 million.”

On that note, I recommend that you take a look at the book “Fatal System Error”…gives very good insight into the underworld of Carding.


1. Don Turnblade - June 27, 2012

$205,000,000 exposure / 400,000 cards / 2 yr investigation = $256.25/card/yr.

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