F.B.I. Indicts Dozens in Online Bank Fraud

In what it is calling Operation Phish Phry, the F.B.I. on Wednesday began arresting 53 people on charges of conducting a vast financial fraud based on phishing — the act of tricking Internet users into revealing their passwords and other information.The arrests were in Southern California, Nevada and North Carolina, while authorities in Egypt sought to arrest 47 people whom the F.B.I. said were co-conspirators.
http://www.nytimes.com/2009/10/08/technology/internet/08phish.htmlAlso see:Operation Phish Phry Nets 100 Suspects
United States and Egyptian authorities began rounding up 100 suspects indicted in connection with a two-year investigation dubbed “Operation Phish Phry.”Operation Phish Phry involved the United States Attorney’s Office, FBI, Egyptian authorities and the Electronic Crimes Task Force in Los Angeles. The 53 suspects in the United States are concentrated in North Carolina, Las Vegas, and Los Angeles, with the majority being from LA. The FBI stated that the number of individuals involved in the phishing scam make it the largest number of defendants ever charged for the same cybercrime.
http://www.networkworld.com/news/2009/100709-operation-phish-phry-nets-100.htmlBiggest cyber-crime investigation in US history: FBI smashes ‘phishing’ ring [AFP]
Investigators in the United States and Egypt have smashed a computer “phishing” identity theft scam described as the biggest cyber-crime investigation in US history, officials said on Wednesday.The Federal Bureau of Investigation (FBI) said in a statement 33 people were arrested across the United States early on Wednesday while authorities in Egypt charged 47 more people linked to the scam.
www.smh.com.au/technology/security/biggest-cybercrime-investigation-in-us-history-fbi-smashes-phishing-ring-20091008-gngq.htmlOPERATION PHISH PHRY: Major Cyber Fraud Takedown [news release]
Nearly 100 people were charged today in the U.S. and Egypt as part of Operation Phish Phry, one the largest cyber fraud phishing cases to date. It’s the latest action in what Director Robert Mueller described in a major address today as a “cyber arms race,” where law enforcement and criminals compete to stay one step ahead of each other on the ever-expanding virtual frontier.Cyber thieves “phish” for personal information such as usernames, passwords, and financial account details by tricking users into thinking their sensitive information is being given to trusted websites when, in fact, the sites are traps.

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