The U.S. Federal Trade Commission (FTC) has dismantled a chain of fraud that has brought millions in profit to the perpetrators over the last four years. The fraud went undetected for a long time because only very small amounts were withdrawn from accounts, mostly between 25 cents and nine U.S. dollars, typically once from each account.
A total of nine and a half million dollars was stolen from 1.35 million cards, and only six percent of such thefts were reported by credit card users. The perpetrators likely obtained credit card numbers through the dark web. To achieve all this, they established more than a hundred fake companies. They also exploited security vulnerabilities at one of the largest U.S. electronic payment intermediaries, First Data, where they opened fake accounts. The transfer of money to foreign countries (Bulgaria, Cyprus, and Estonia are mentioned) was facilitated by individuals who were lured through spam emails to open accounts in those countries, believing they were investing their money in foreign businesses. The perpetrators behind all this have not yet been identified. (www.cert.hr)
