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Credit card fraud ring broken up

June 29, 2012

Thanks to the efforts of law enforcement agencies, 24 credit card thieves have been placed under arrest.

Thanks to the efforts of law enforcement agencies, 24 credit card thieves have been placed under arrest.

In a statement, the U.S. Department of Justice said it had arrested two dozen criminals involved in a credit card fraud scheme in 13 different countries. The Federal Bureau of Investigation uncovered the criminal network during a two year operation using undercover agents.

According to officials, a number of different agencies from various countries were able to work together to dismantle the fraud ring.

“The coordinated law-enforcement actions taken by an unprecedented number of countries around the world today demonstrate that hackers and fraudsters cannot count on being able to prowl the Internet in anonymity and with impunity, even across national boundaries,” Preet Bharara, the U.S. attorney for the Southern District of New York, said in a statement. “Hackers and fraudsters cannot count on being able to prowl the Internet in anonymity and with impunity, even across national boundaries.”

Private companies are also making efforts to reduce levels of credit card fraud. In January, the Google, Microsoft, Yahoo and Facebook teamed up to form Domain-based Message Authentication to prevent merchant services-related phishing scams.

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