Facebook helps FBI bust cybercriminals blamed for $850 million losses

SAN FRANCISCO Wed Dec 12, 2012 7:48am IST

The loading screen of the Facebook application on a mobile phone is seen in this photo illustration taken in Lavigny May 16, 2012. REUTERS/Valentin Flauraud/Files

The loading screen of the Facebook application on a mobile phone is seen in this photo illustration taken in Lavigny May 16, 2012.

Credit: Reuters/Valentin Flauraud/Files

Related Topics

Stocks

   

SAN FRANCISCO (Reuters) - Investigators led by the Federal Bureau of Investigation and aided by Facebook Inc (FB.O), have busted an international criminal ring that infected 11 million computers around the world and caused more than $850 million in total losses in one of the largest cybercrime hauls in history.

The FBI, working in concert with the world's largest social network and several international law enforcement agencies, arrested 10 people it says infected computers with "Yahos" malicious software, then stole credit card, bank and other personal information.

Facebook's security team assisted the FBI after "Yahos" targeted its users from 2010 to October 2012, the U.S. federal agency said in a statement on its website. The social network helped identify the criminals and spot affected accounts, it said.

Its "security systems were able to detect affected accounts and provide tools to remove these threats," the FBI said.

According to the agency, which worked also with the U.S. Department of Justice, the accused hackers employed the "Butterfly Botnet". Botnets are networks of compromised computers that can be used in a variety of cyberattacks on personal computers.

The FBI said it nabbed 10 people from Bosnia and Herzegovina, Croatia, Macedonia, New Zealand, Peru, the United Kingdom, and the United States, executed numerous search warrants and conducted a raft of interviews.

It estimated the total losses from their activities at more than $850 million, without elaborating.

Hard data is tough to come by, but experts say cybercrime is on the rise around the world as PC and mobile computing become more prevalent and as more and more financial transactions shift online, leaving law enforcement, cybersecurity professionals and targeted corporations increasingly hard-pressed to spot and ward off attacks.

(Reporting By Edwin Chan; Editing by Matt Driskill)

FILED UNDER:
Photo

After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.

TECH WRAP

Reuters Showcase

Obama's Message

Obama's Message

In parting shot, Obama prods India on religious freedom.  Full Article 

Armyman Killed

Armyman Killed

Indian army colonel killed in Kashmir fighting.  Full Article 

Uber in Delhi

Uber in Delhi

Uber scraps commissions for its New Delhi taxis.  Full Article 

Company Earnings

Company Earnings

Maruti promises clarity on cash plans.  Full Article 

Japan Hostages

Japan Hostages

Japan vows to work with Jordan to secure hostage release.  Full Article 

RK Laxman Dead

RK Laxman Dead

'Common Man' cartoonist RK Laxman dead at 93  Full Article 

India’s Male Tenor

India’s Male Tenor

India’s lone male tenor wants to ‘Indianise’ opera  Full Article 

Facebook Outage

Facebook Outage

Hacker group claims it is behind outages at Facebook, other sites  Full Article 

U.S. Blizzard

U.S. Blizzard

`Life-threatening' blizzard shuts down much of U.S. Northeast  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage