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Home security Russian man has pleaded guilty to credit card fraud.

Russian man has pleaded guilty to credit card fraud.

A Russian has pleaded guilty to charges of being one of the ringleaders of a stolen credit card, identity card and hacking tools. A few days ago, the US Department of Justice (DoJ) announced that Sergey Medvedev, also known by the nicknames "Stells", "segmed" and "serjbear", was one of its top members. Infraud Organization. This is a big fraud circuit that focuses on credit cards.

What is "Carding"?
The term "Carding" is used to describe a credit card fraud scheme, including the sale and exchange of credit card numbers, the use of stolen items to buy gift cards or other products, and money laundering.

According to U.S. prosecutors, Infraud was not only involved in credit card fraud, but also bought and sold personal identification (PII), banking archives, maliciously software and other "smuggled" products. The Organization was started in 2010 by Svyatoslav Bondarenko, also known as "Obnon", "Rector" or "Helkern". The Infraud Organization operated under the slogan "In Fraud We Trust" and directed the candidates customers on a sales site, members of the organization, which amounted to over 10.000 until 2017 when Infraud was dissolved by law enforcement. To keep the primary destination for product and service cards, Infraud was checking for stolen offers data and also provided service escrow using cryptobodies. The coordinators of the organization supervised specific areas of the card circuit, depending on the field in which each of them specialized, while the sellers sold products. The Infraud Organization also divided members into standard and VIP accounts.

DoJ estimates that Infraud is representing more than $ 568 million in real losses, with $ 2,2 billion in losses. Individuals, financial institutions and salespeople have been affected by the cybercrime's illegal business practices.

Appearing before the judge of their regional court USAJames Mahan, in the Nevada Region, the 33-year-old Russian confessed to his role in the Infraud Organization, according to him Racketeer Influenced and Corrupt Organizations (RICO). Another 36 people are accused of participating in the Organization, while arrests were made in the United States, Australia, the United Kingdom, France, Italy, Serbia and Kosovo.


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