"26 arrested in Web credit card fraud" by Nelson D. Schwartz | New York Times, June 27, 2012
Authorities in the United States and overseas arrested 26 people Tuesday in a crackdown on Internet credit card fraud after an extensive undercover operation.
Two individuals were arrested in New York, nine elsewhere in the United States, and 15 in 12 other countries, according to an FBI spokeswoman.
‘‘We put a major dent in cybercrime,’’ she said. ‘‘This is an unprecedented operation.’’
In the sting, which they called Operation Card Shop, undercover investigators created an online bazaar to catch buyers and sellers of credit card data and other private financial information.
They also aimed at people who clone and produce the physical credit cards that are then used to buy merchandise.
Credit card theft has exploded in recent years.
Time to cut up the cards.
Janice K. Fedarcyk, assistant director for the FBI, said the arrests would cause ‘‘significant disruption to the underground economy.’’
I was wondering where it went.
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"Pittsfield man arrested in global cybercrime case" by Colin A. Young | Globe Correspondent, June 28, 2012
A Pittsfield man was among the more than 20 people arrested following an FBI investigation into cybercrimes and identity fraud, the agency announced.
Peter Ketchum Jr., 21, was arrested Tuesday and charged with conspiracy to commit access device fraud and could face more than seven years in prison, the FBI said. Ketchum was arrested as part of a two-year undercover investigation into “carding” crimes, which typically involve “stealing personal identification information and financial information . . . and using that information to obtain money, goods, or services without the victim’s authorization,” according to the FBI.
Related: The Gonzalez Garbage Dump
I wonder what Ketchum's defense will come up with.
Ketchum allegedly sold “drop addresses” to other cybercriminals in exchange for money or merchandise. “Drop addresses” are usually vacant houses or apartments where goods purchased using stolen credit card information can be shipped and accepted by another person.
Plenty of them with all the foreclosures.
“Individuals who use stolen credit card information to purchase goods on the Internet are typically reluctant to ship the goods to their own home addresses, for fear that law enforcement could easily trace the purchases,” the FBI said in a statement.
Ketchum was one of 24 alleged cybercriminals arrested globally as a result of what the FBI called “the largest coordinated international law enforcement action in history directed at carding crimes.” As a result of the investigation, the FBI prevented an estimated $205 million in economic losses, notified credit card providers of more than 411,000 compromised cards, and alerted 47 companies of breaches of their networks, officials said.
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Also see: In Pittsfield, baseball tradition takes fans way back
Michelle Obama will act as host in Pittsfield fund-raiser
