The FBI has announced that it has concluded a two year investigation into an online market for stolen credit card data behind millions of dollars of fraud.

The Dark Market forum was discovered by the agency and was found to be built for the buying and selling of stolen financial information including credit card data, login credentials (user names and passwords), as well as equipment used in carrying out certain financial crimes.

In a two year operation, carried out in conjunction with the UK’s Serious Organised Crime Agency (SOCA), and other law enforcement agencies around the globe, has resulted in 56 arrests. However the agency thinks there may have been as many as 2,500 regualr forum members.

FBI Cyber Division Assistant Director Shawn Henry said, “In today’s world of rapidly expanding technology, where cyber crimes are perpetrated instantly from anywhere in the world, law enforcement needs to be flexible and creative in our efforts to target these criminals.”

“By joining forces with our international law enforcement counterparts, we have been, and will continue to be, successful in arresting those individuals and dismantling these forums.”

The FBI estimates that it has protected bank accounts and credit lines worth US$70 million by shutting down the forum and that the investigation has spawned new leads and investigations that will also be followed up.

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