Recently, the Europol held 76 persons in 26 countries who are suspected of committing fraud using Stolen Credit Cards information. The European Cybercrime Centre (EC3) coordinated the law enforcement operation, “eCommerce Action 2017” to take down the cyber-criminals who are using the stolen financial information, with the primary focus on stolen credit card and debit cards, to purchase goods from eCommerce shops.
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Europol said they suspect 76 peoples were responsible for conducting over 20,000 illegal transactions using stolen credit cards worth over 5 million euros. The financial institutes, e-merchants, logistics firms, and credit card issuers helped in that operation to arrest fraudsters. With the national and regional police departments, their main aim to dismantle the criminal networks which are a large-scale fraud operation.
They also identified 200 websites, and social media accounts were used to sell products, which were purchased using stolen credit cards information. The authorities targeted the addresses where the fraudsters sent the illegally bought goods. The authorities seized hundreds of packages being sent from e-commerce stores. They searched a hundred locations in 26 countries taking expensive electronics, including tablets and smartphones, as well as clothes and watches
In the e-commerce action 2017, the authorities managed to connect some of the suspects to other offenses, including cyber attacks, illegal use of stolen passports, phishing, identity fraud, and online child exploitation. The fraud of stolen Credit cards against online shops is considered as a low-risk criminal activity and high-profit losses for the European sector exceeding 1 billion euros yearly.
Likewise, they arrested two peoples and seized 14 packages in Austria. On June 21, Federal Criminal Police Office reported that they found adult-related contents material on one of the suspect laptops. They said other suspect had bought drugs from the dark web. They also arrested one suspect in Dublin. Just in Ireland, authorities managed to recover 100 stolen credit cards, which were distributed in the United States.
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Garda teams up with the retailers to combat the growing spike in the card. In the first half of 2016, stolen credit cards fraud caused nearly 20 million euros of damage, with 75% of the crimes happening when a card was not present. The recent target of Stolen credit cards fraud was a major national sports retailer in Ireland, which reported 172 successful and attempted purchases during two weeks in March from its online shop using stolen credit cards from the United States.