Remittances And Crypto Used In Stolen Card Scheme, U.S. Government Claims

U.S. officials have extradited a Russian national accused of selling stolen credit card data, with authorities alleging that he exploited virtual currencies and money transfer services to accept payment for the purloined information.

The man, Aleksei Burkov, allegedly ran a website dubbed Cardplanet, which sold debit and credit card numbers that had been stolen by hacking into computer systems.

Cardplanet sold data on more than 150,000 cards, many of which were held by U.S. citizens, resulting in more than $20m in fraudulent purchases, according to the U.S. Department of Justice.

To continue reading...

Our Key Benefits

PaymentsCompliance is a premium information service for compliance, legal and regulatory professionals. Our award-winning regulatory monitoring platform is used by many of the world's leading payment services providers and e-money institutions, regulators, challenger banks, fintechs and law firms.

We keep our clients informed of critical regulatory change and help them understand, with in-depth analysis, when change is coming and the implications for their organisation.

We provide our clients with a quantifiable and significant ROI by reducing the amount of time and money spent monitoring and analysing regulatory environments in multiple jurisdictions.