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Carder Fraud Forum closed by FBI: 11 UK arrests
Last week the FBI announced that it has been infiltrating a carder forum used by fraudsters to buy and sell illegally obtained credit card information. The FBI revealed it has been monitoring the forum for the past two years in order to develop intelligence and identify and locate those buying and selling card details.
Carder forums such as Dark Market create a global environment in which criminals can network and share intelligence. They are also used to buy and sell credit card details, as well as usernames and passwords which can be used in account takeover fraud.
At its peak the Dark Market fraud forum had over 2,500 registered members and the FBI has estimated that $70million in economic loss was saved by their action in monitoring and preventing the fraud. Reflecting the global reach of credit card fraud, the operation was international with German, American and UK law enforcement involved. The FBI claim to have gathered a number of new leads, and have announced that a total of 56 arrests have been made as a direct result of the operation. Today it has been revealed that 11 of those arrests were made in the UK, under SOCAs jurisdiction.
Fraud forums are relatively easy for fraudsters to create and provide a global marketplace for sharing illegal data as well as information on how to commit fraud using it. In order to help the retailers that are victims of this fraud, 192 have developed solutions to help e-commerce operators to also share data and intelligence.
Our online fraud forum is a community of fraud prevention managers who can share their fraud data online, as well as discuss emerging trends and best practices. Access to the forum is strictly restricted to those working within the fraud prevention sector, and is free to join and use. For more information please call Laura Brown on 020 7909 2156 or email us at: enquiries@192.com
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