Federal agents in the US have confirmed a massive sting operation aimed at hackers and cybercriminals has led to the arrest of 24 individuals.
“Clever computer criminals operating behind the supposed veil of the Internet are still subject to the long arm of the law,” said Manhattan US attorney Preet Bharara.
The investigation stretched over two years and involved FBI agents going undercover on internet forums to pose as fellow hackers. All the men arrested were aged between 18 and 25 and could face up to 40 years in prison.
While the news is a positive breakthrough in preventing future cybercrime, businesses should not rest on their laurels when it comes to ensuring the security of user data.
The men arrested were found to be exchanging stolen credit card details, as well as trading information on the best way to access secure databases.
Payment Card Industry Data Security Standard (PCI DSS) compliance remains the best way to ensure your company is meeting its responsibilities when it comes to handling debit and credit card information.
US authorities in New York have reported that the investigation prevented upwards of US$205 million in possible losses.
Almost half of the 24 men were arrested in the US, while the rest came from a range of countries including Australia, Reuters are reporting.