Infraud facilitated the large-scale acquisition, sale, and distribution of stolen identity information and payment cards, personally identifiable data, financial and banking info, computer malware, and various other contraband.
"During the course of its seven-year history, the Infraud Organization inflicted approximately $2.2 billion in intended losses, and more than $568 million in actual losses, on a wide swath of financial institutions, merchants, and private individuals, and would have continued to do so for the foreseeable future if left unchecked," a DoJ release says.
In February 2018, US authorities indicted 36 individuals for alleged roles in the transnational Infraud cybercrime group, out of 10,901 registered members in March 2017, and apprehended 13 defendants from the United States and six countries: Australia, the United Kingdom, France, Italy, Kosovo and Serbia.
Russian national Sergey Medvedev, one of the co-founders of Internet-based cybercriminal enterprise Infraud Organization and an admin on the organization's carding portal, today pleaded guilty to RICO conspiracy.
The Infraud organization also "directed traffic and potential purchasers to the automated vending sites of its members, which served as online conduits to traffic in stolen means of identification, stolen financial and banking information, malware, and other illicit goods."
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