Bank Systems & Technology > Feds Crack Down On Cyberfraud:
Jim Middlemiss, Wall Street & Technology, and George V. Hulme, InformationWeek
Federal authorities and investment firms are getting serious about Internet-related fraud. Recently, Operation Cyber Sweep, which included 34 U.S. attorneys, the FBI, and various federal, state, local, and foreign law-enforcement agencies, targeted cyberfraudsters and netted 125 arrests and more than 70 indictments.
The operation targeted some of the most common online fraud schemes: identity theft, international money laundering, theft of business trade secrets, auction fraud, Web-site spoofing, and cyberextortion. These schemes involved more than 125,000 victims with losses estimated to exceed $100 million.
In one case, a Pennsylvania man allegedly used a Trojan horse to capture the password of an investor's online account, a stark example of the security scams that investment firms face."