U.S., U.K. Authorities Go After Alleged Cybercrime Operation

Authorities in the U.S. and U.K. charged or arrested more than 100 people in relation to an alleged multi-million dollar cyber scam to steal bank account information and pilfer people's money.

Between May 2009 and last month, at least $3 million was taken from U.S. accounts, U.S prosecutors said, according to the Wall Street Journal.

In London, U.K. authorities arrested 19 people in relation to the alleged theft of at least £6 million ($9.5 million) from British accounts. U.S. officials say the two investigations are related.

Prosecutors say that hackers designed malicious software and hid it in an e-mail. When unwitting users opened the e-mail, the virus would monitor computer activity to get user names and passwords.

The hackers then used this data to move money from the victims' bank accounts into accounts held by so-called mules, who agreed to launder the money, prosecutors say.

The alleged scam hit five banks, including JP Morgan Chase (JPM) and Ally Financial, as well as dozens of individuals and companies.


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