36 Indicted in Global Cybercrime Ring That Stole $530M (go.com)

U.S. prosecutors say 36 people have been indicted in connection with an international cybercrime ring that bought and sold stolen credit card information, leading to losses of more than $530 million. From a report: The Justice Department says Wednesday that the so-called Infraud Organization dealt in the large-scale acquisition and sale of stolen identities, credit card information and malware. Deputy Assistant Attorney General David Rybicki says it was "truly the premier one-stop shop for cybercriminals worldwide." He says the organization used an online forum on the dark web to sell financial and personal information. Investigators believe the organization's nearly 11,000 members targeted more than 4.3 million credit cards and bank accounts.

Comments

Learn for it!

[Murdoch5]

This should show everyone how much security and validation is lacking in almost every aspect of our lives. The best thing to do, is to learn from what happened and evolve systems that can deal with the real threats. When security legs behind, you get scenarios such as this!

Re:Learn for it!

[geekmux]

This should show everyone how much security and validation is lacking in almost every aspect of our lives. The best thing to do, is to learn from what happened and evolve systems that can deal with the real threats. When security legs behind, you get scenarios such as this!

The first step to make systems more secure, is to punish those who have made them insecure.

When punishment lags behind, you see these scenarios happen over and over and over again, because organizations and the people who lead them do not give a shit enough to invest in fixing the problem.

Motivation...

[Oswald McWeany]

There have been studies in the past to see what motivates people to NOT break the law.

To prevent people breaking the law, raising the sentence or the punishment tends to have little impact. What does have impact is raising the chance that you will get caught. You can hand out life sentences for people stealing candy bars and it would prevent fewer people stealing them than if you embedded a security chip into the wrapper or had a policeman standing next to the candy bar at all times watching it.

Punishment doesn't deter people- chance of getting caught does.

This is the problem with cybercrime. You can put any punishment on committing a crime and it won't stop many people doing it because; cyber criminals know there is almost no chance they will ever get caught. Cybercrime is only going to get worse because there isn't an effective way to police it; so people need to be increasingly vigilant about security.