Tag: financial crimes
55 articles
US Charges 14 in North Korean Remote Work Scheme Crackdown
The US Justice Department has cracked down on a massive remote-work scheme benefiting North Korea, charging 14 people and seizing nearly 200 computers in a nationwide operation. This sweeping move, dubbed Operation Lonestar Roundup, goes far beyond fraud, aiming to dismantle a sprawling network of "laptop farms" used to allegedly funnel profits to the reclusive regime.
FTC Alleges Sextortion Protection Firms Deceived Customers
The Federal Trade Commission is cracking down on a group of so-called sextortion protection firms, accusing them of deceiving customers out of at least $60 million. The FTC lawsuit claims Dmitry Belkin and his 12 companies used misleading tactics to sell their services, allegedly preying on people targeted by romance and sextortion scams.
Ransomware CEO Indicted for Pocketing Millions in Client Fees
Meet Zohar Pinhasi, the alleged ransomware scammer who pocketed millions by preying on vulnerable businesses, charging them hefty fees for a promised solution that didn't exist. His company, MonsterCloud, is accused of swindling hundreds of clients out of over $19 million, while only paying $8 million in actual ransom payments.
GenAI Fuels Phishing Evolution, Prompting New Security Countermeasures
Thanks to AI, phishing emails have become a whole lot harder to spot - gone are the telltale signs of poor grammar and misspelt words, replaced with slick, error-free language that's almost indistinguishable from the real thing. Phishing has evolved into a massive threat, with the FBI reporting a 274% surge in losses over just two years.
Ransomware Recovery CEO Charged in Alleged Secret Ransom Payments Scheme
A CEO's shocking scheme to profit from ransomware recovery has landed him in hot water, accused of secretly paying off ransomers while pretending to decrypt the malware for his clients, leaving them victimized twice over. The alleged scam, which ran from 2018 to 2023, could now cost him up to 20 years in prison.
US Treasury Sanctions Tren de Aragua Members Over $40 Million ATM Hacks
The US Treasury Department has cracked down on eight members of the notorious Venezuelan gang Tren de Aragua, sanctioning them for their roles in a brazen $40 million ATM hacking scheme that targeted US bank and credit union machines. Using malicious software, the gang forced ATMs to spit out cash, which was then laundered and transferred to members worldwide.
US Air Force Veterans Sentenced for Orchestrating BEC Scams
Two US Air Force veterans orchestrated a brazen multi-year scheme that scammed over $1.68 million from a victim in Iowa City, using a complex web of domestic and international co-conspirators to divert funds into their control.
US Charges Vietnamese Man in $16 Million Crypto Scam
A Vietnamese man has been charged in the US for masterminding a crypto scam that raked in a staggering $16 million, with authorities seizing over $53 million in cryptocurrency assets from his wallets. He was arrested at Los Angeles International Airport after entering the US from Mexico and was set to flee to Taiwan.
North Korea Targets 30,000 Devices in Global Crypto Heist
North Korean hackers have launched a massive global crypto heist, compromising over 30,000 devices in more than 100 countries and stealing at least $10.71 million in cryptocurrency. This staggering cybercrime spree has been uncovered by a joint advisory from top cybersecurity agencies worldwide.
US Indicts Black Axe Gang Leaders for Global Cyber Fraud
Meet the notorious Black Axe gang, a violent transnational crime group that's been scamming people worldwide, including through romance scams, and now its leaders are facing justice. Five alleged members have been extradited to the US on wire fraud and money laundering charges.
Ukrainian Lawyer Turned Conti Coder Gets 4-Year Sentence
Meet Oleksii Oleksiyovych Lytvynenko, a Ukrainian lawyer-turned-ransomware coder who traded in his law books for a life of cybercrime as a key player in the notorious Conti operation, and ultimately paid the price with a four-year prison sentence. He was caught funneling thousands of dollars in cryptocurrency to his co-conspirators, including a $25,042 transfer that sealed his fate.
US Lawmakers Scrutinize Scam-Fighting Coordination
US lawmakers are pushing for better coordination in scam-fighting efforts, calling for a unified leader to tackle the issue with the urgency of a combat operation. Currently, there's no single entity in charge across agencies, leaving scam networks to easily relocate and evade enforcement.
Crypto Thefts Surge Via Violent Physical Attacks
Criminals are targeting crypto holders with violent physical attacks, exploiting the fact that they possess wealth that can be transferred instantly and irreversibly. In the first half of 2026, these brutal tactics have resulted in $30 million in direct losses and a staggering $107 million when including attempted thefts.
Canadian Hacker Pleads Guilty in Snowflake Extortion Scheme
A Canadian hacker has pleaded guilty to masterminding a massive extortion scheme targeting Snowflake customers, compromising at least 165 accounts and swiping billions of sensitive records in a brazen heist that raked in over $2.5m in ransom payments. Connor Riley Moucka, 26, faces up to 32 years in prison for his role in the 2024 cyber attacks.
Russian Firms Targeted in Nine-Year Advance Payment Fraud Campaign
Russian companies have been hit by a massive nine-year scam, with nearly 100 fake websites impersonating major firms to swindle advance payments from international partners across various sectors. The sophisticated campaign, active since 2017, has used multiple languages and evolved to use diverse domain extensions.
US Targets Overseas Cybercrooks with Visa Cancellations
The US is cracking down on overseas cybercrooks by cancelling their visas, a move aimed at curbing the $10 billion+ in scams that defraud American citizens every year. This targeted approach will deny visas to foreign nationals involved in cybercrime, including those behind investment scams and sextortion schemes that prey on vulnerable victims.
US Prosecutors Charge Two in $43 Million Investment Fraud Laundering Scheme
For nearly two years, Zhuoying Chen and Haojie Zhang allegedly masterminded a brazen $43 million investment fraud laundering scheme, preying on innocent victims and funneling their life savings into bank accounts in China. The sophisticated network, involving over a dozen people, was recently dismantled by US authorities.
Dutch Police Disrupts €100 Million Investment Fraud Ring
Dutch police have cracked down on a massive €100 million investment fraud ring, arresting multiple suspects, including a 46-year-old Israeli-Polish national with a notorious hacking past. The international sweep resulted in detentions across Cyprus, Greece, and Belgium, with authorities vowing to bring the alleged perpetrators to justice.
US Charges Russian Nationals for Bulletproof Hosting Services
US authorities have charged three Russian nationals with operating illicit bulletproof hosting services that enabled cybercrime, affecting victims across 21 states, including banks, schools, hospitals, and media companies. The accused, Aleksandr Volosovik, Yulia Pankova, and Kirill Zatolokin, allegedly facilitated a range of malicious activities through their services.
Spanish Police Dismantle €140 Million Cyber Fraud Ring
Meet the cybercrime ring that swindled €140 million from unsuspecting victims through cunning investment scams and business email hacks - but thanks to a slick operation by Spanish Police, its masterminds have been brought to justice. Four key players were arrested across Spain, Portugal, and Panama, dealing a major blow to this industrial-scale cybercrime network.
UK Charges Five in Crackdown on Russian Coms Spoofing Platform
In a major crackdown on cybercrime, five London residents have been charged in connection with Russian Coms, a notorious caller-ID spoofing platform that enabled scammers to swindle tens of millions from an estimated 170,000 victims since 2020. The accused allegedly helped fraudsters pose as trusted institutions to trick people into handing over cash and sensitive information.
Ryuk Ransomware Operative Pleads Guilty in US Court
A major player behind the notorious Ryuk Ransomware gang has taken responsibility for their crimes, with Karen Serobovich Vardanyan, a 34-year-old Armenian national, pleading guilty in a US court to conspiracy and computer fraud. As part of his plea deal, Vardanyan will pay over $1.1m in restitution for his role in the massive cyberattack that netted over $15m in bitcoin payments.
Ryuk Ransomware Operative Pleads Guilty, Faces 15-Year Sentence
A 34-year-old Armenian man, Karen Serobovich Vardanyan, has pleaded guilty to masterminding a brazen ransomware scheme that raked in around $15 million by infiltrating hundreds of computer networks and deploying Ryuk ransomware. Vardanyan's guilty plea comes after his extradition from Ukraine, where he was arrested in April 2025.
Ransomware Negotiator Sentenced for Duping Clients in $75.3 Million Extortion Scheme
A trusted ransomware negotiator turned double agent, Angelo Martino betrayed his clients, funneling their confidential info to BlackCat affiliates and lining his pockets with a share of their ransoms, leaving a trail of devastated businesses in his wake. His deceit raked in $75.3 million for him and his co-conspirators.