Europol and partners thwart massive credit card fraud scheme

guest · Nov 28, 2020

Europol and partners thwart massive credit card fraud scheme
The operation was carried out against fraudsters trying to monetize stolen credit card data on the internet’s seedy underbelly
November 27, 2020
https://www.welivesecurity.com/2020/11/27/europol-partners-thwart-credit-card-fraud-scheme/

Europol and several national law enforcement agencies have teamed up to disrupt trade in stolen credit card data on the dark web, ultimately preventing around €40 million (US$48 million) in losses for both consumers and financial organizations.

The operation, dubbed Carding Action 2020, was carried out over a span of three months and involved an analysis of 90,000 pieces of credit card information. It was led by law enforcement authorities from Italy and Hungary and supported by their peers from both the United Kingdom and Europol. It’s not immediately clear if any arrests were made.

“With more than €40 million in losses prevented, Carding Action 2020 is a great example of how sharing information between private industries and law enforcement authorities is a key in combating the rising trend of e-skimming and preventing criminals from profiting on the back of EU citizens,” said Edvardas Šileris, head of Europol’s European Cybercrime Centre, praising the success of the collaborative effort.
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Europol: Officers foil fraudsters from stealing €40 million in payment card scam

90 000 pieces of card data were analysed in the past three months
Carding Action 2020, an operation led by law enforcement agencies from Italy and Hungary and supported by the UK and Europol, targeted fraudsters selling and purchasing compromised card details on websites selling stolen credit card data, known as card shops, and dark web marketplaces.

The expansion of e-skimming attacks targeting merchant point of sale systems and e-commerce merchants also influenced the significant increase of prevented losses.
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guest · Nov 28, 2020

Carding Action 2020: Group-IB supports Europol-backed operation saving €40 million
November 26, 2020
https://www.group-ib.com/media/carding-action-2020/

Group-IB, a global threat hunting and intelligence company, has supported Carding Action 2020 — a cross-border operation led by Europol’s European Cyber Crime Centre (EC3) with the support from law enforcement agencies including The Dedicated Card and Payment Crime Unit of the of the London Metropolitan and the City of London Police.

The details and results of the operation have been presented to the public today by Tobias Wieloch of EC3 at CyberCrimeCon Virtual 2020 — a global threat hunting and intelligence conference, powered by Group-IB.
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All of the 90,000 pieces analysed by Group-IB included full card data — cards compromised via phishing websites, from end devices infected with banking Trojans, as well as by the means of hijacked eCommerce websites and the use of JS-sniffers. According to Group-IB Hi-Tech Crime Trends report 20/21, presented yesterday ta CyberCrimeCon, the carding market grew by 116 percent from $880 mln to $1.9 bln. The expansion of JS-sniffer attacks targeting e-commerce merchants influenced the significant increase of prevented losses.
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