UK-based cyber threat intelligence firm SiO4 offers perspective on Infraud, the large, highly organized online credit card fraud ring believed to have stolen more than $530 million since 2010. The US Department of Justice has just announced it’s just shut Infraud down, has indicted 36, and arrested 13 defendants from the US, Australia, the United Kingdom, France, Italy, Kosovo and Serbia. Infraud was a top global buyer’s and seller’s market for fraudsters whose motto was “In Fraud We Trust.”
In response – Andrew Speakmaster, CTO and Founder, SiO4
“This is a classic example of how the underground economy works and continues to sell stolen data in these Dark Web marketplaces. While some threat actors are prosecuted, most continue to reap huge profits where exfiltrated data is sold and traded. It is imperative for organizations to implement a true threat intelligence strategy that will enable them to gain insight into the deep Dark Web and leverage preemptive intelligence to eliminate or mitigate risk. Much of the intelligence today is reactive rather than proactive and is merely information, not intelligence.”
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Article Link: http://digitalforensicsmagazine.com/blogs/?p=2332