Security News > 2020 > March > Russians Shut Down Huge Card Fraud Ring

Federal investigators in Russia have charged at least 25 people accused of operating a sprawling international credit card theft ring.

In a statement released this week, the Russian Federal Security Service said 25 individuals were charged with circulating illegal means of payment in connection with some 90 websites that sold stolen credit card data.

KNOW YOUR FRAUDSTER. Nearly all of the carding sites allegedly tied to this law enforcement action - including those with such catchy names as BingoDumps, DumpsKindgom, GoldenDumps, HoneyMoney and HustleBank - were united by a common innovation designed to win loyalty among cybercriminals who buy stolen cards or "Dumps" in bulk: Namely, a system that allowed buyers to get instant refunds on "Bad" stolen cards without having to first prove that the cards were canceled by the issuing bank before they could be used for fraud.

These checking services are tied to "Moneyback" guarantees that will automatically refund the purchase price for any cards found to be invalid shortly after the cards are bought, provided the buyer agrees to pay an added fee of a few cents per card to use the shop's own checking service.

With TYC, if a customer claimed a card they bought was declined for fraudulent transaction attempts made within six hours of purchase, the carding shop would refund the price of that card - no questions asked.

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https://krebsonsecurity.com/2020/03/russians-shut-down-huge-card-fraud-ring/