Thursday, November 12, 2015

Charges Laid in Massive Cyberfraud Ring

 

Image courtesy of (Stuart Miles) / FreeDigitalPhotos.net
 

A major hack against JP Morgan & Chase and other companies has resulted in three men being indicted in connection to the cybercrime.

fraud
 
Gery Shalon, Joshua Samuel Aaron and Ziv Orenstein, all from Israel, have been charged in connection to the crimes that targeted a handful of financial service businesses and even media outlets. The trio have 23 charges against them in the crimes that began as far back as 2007.

“By any measure, the data breaches at these firms were breathtaking in scope and in size,” U.S. Attorney Preet Bharara said at a press conference in Manhattan, reported Reuters.

The crimes resulted in the personal information of more than 100 million people being compromised.
Prosecutors allege the trio carried out a hacking and fraud exercise that included pumping up stock prices, online casinos and even money laundering.

NBC News reported the hacking of JPMorgan’s computers compromised information in 83 million household and small business accounts. That makes it one of the largest information breaches in history.

“It is hacking in support of a diversified criminal conglomerate,” said Bharara. “In short, it is hacking as a business model.”

Authorities are continuing to investigate and working with various companies impacted.

“We continue to cooperate with law enforcement in fighting cybercrime,” JPMorgan spokeswoman Trish Wexler said in a statement to Bloomberg.

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