EXECUTIVE SUMMARY:

With a tagline “In fraud we trust,” a cybercrime enterprise known as Infraud Organization has been allegedly dealing in the buying and selling of credit cards for about seven years. That lucrative business, which has been responsible for causing more than $530 million in losses according to federal prosecutors, has hit a roadblock.

On Wednesday, 36 people from around the world were charged by US federal authorities; 13 are currently in custody.

Dan Goodin from Ars Technica¬†reports,¬†“It (Infraud Organization) served as an online bazaar that directed potential buyers to a pool of people selling stolen credit card data, social security numbers, and other personal information, as well as malware, hardware, and other wares used to facilitate card fraud.”

The organization’s seven-year run was likely due to running a tight ship. As with many successful Dark Web or cybercrime enterprises, it appears that the cybercriminals put a great deal of thought into how to structure and organize the business.

According to Goodin, “The organization was headed by administrators who collectively controlled its destiny and seeded it with sellers who had a reputation for delivering illicit goods of high quality. Administrators also meted out punishments to members who broke rules and to members of rival criminal groups. Lower down were super moderators and moderators who served as subject-matter experts over specific topics or regions.”

Get the full story at Ars Technica.