US, Romania Bust Online Fraud Ring

A collaboration between U.S. and Romanian law enforcement agencies has disrupted an ongoing Internet fraud scheme conducted by several networks of organized cyber criminals, including more than a hundred recent arrests and searches in Romania, the FBI announced.

According to U.S. court documents, conspirators in Romania would post items for sale such as cars, motorcycles and boats on websites and online auctions. Interested buyers were instructed to wire transfer the purchase money to a fictitious name they claimed to be an employee of an escrow company. But after submitting payment, victims never received the items they thought they had bought.

The FBI said victims lost an estimated $10 million. However, the full loss amount and identification of additional victims is ongoing, the bureau said.

You may also be interested in...

Red Hat's David Egts: Open-Source Training, “˜Sense of Mission' Could Help Agencies Address Cyber Skills Gap - top government contractors - best government contracting event

Red Hat's David Egts: Open-Source Training, “˜Sense of Mission' Could Help Agencies Address Cyber Skills Gap

David Egts, chief technologist for Red Hat's North American public sector, has said there are several options …

HHS, Industry Aim to Help Health Organizations Mitigate Cyber Threats With New Publication - top government contractors - best government contracting event

HHS, Industry Aim to Help Health Organizations Mitigate Cyber Threats With New Publication

The Department of Health and Human Services has released a four-volume document that outlines 10 …

Cloud-Based Identity Tools, Mobile Device-Based Authentication Among Cyber Market Trends to Watch in 2019 - top government contractors - best government contracting event

Cloud-Based Identity Tools, Mobile Device-Based Authentication Among Cyber Market Trends to Watch in 2019

Some of the trends in the cybersecurity market to watch in 2019 include the availability …