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Monday, June 26, 2017

International cooperation leads to arrest of 73 cyber-criminals

Fraudsters are relentless and ever more sophisticated in their attacks on the world’s financial networks. However, security experts are also relentless and ever more sophisticated in their work to protect our systems. And law enforcement agencies are coordinating efforts to capture the criminals bent on profiting through cyber-crime.

Last week, the Merchant Risk Council reported that 26 countries participated in eCommerce Action 2017 (eComm 2017). The Europol European Cybercrime Centre (EC3) coordinated this second annual coordinated action, which apprehended 73 fraudsters and members of Internet-based criminal networks for alleged online fraud activities. Arrests took place from June 6 through 16; suspects “were responsible for more than 20,000 fraudulent transactions with compromised credit cards, an estimated value exceeding EUR 5 million,” the EC3 stated.

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