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The police have made numerous arrests, following an international effort to bring down a cyber crime ring that hacked into Stubhub user's accounts.
Attention was drawn to the international cyber crime ring after they hacked into 1,600 separate user accounts, by obtaining password information through data breaches on other websites. They then stole information and used credit cards to fraudulently buy tickets to sell on, reports The Guardian.
Following this, the profits, which amounted to $1 million, were siphoned off through a global network of criminals in the US, Canada, Russia and the UK. According to Stephen Head, national Co-ordinator for Economic Crime at City of London Police
City of London police, Royal Canadian Mounted Police and the New York District Attorney's (DA) office, all coordinated to make the arrests and stop more money from disappearing. Three men aged 27, 39 and 46 were arrested in Suffolk and London on suspicion of money laundering, one in Canada and seven in New York.
Head added: "What we've got are really sophisticated cyber hackers, hacking into quite a well protected system in StubHub, getting into people's accounts, buying tickets, selling tickets, realising that money. And then the international dimension of course is the fact that they're trying to launder that money through London.
"The cooperation we've seen today is a model for the future. These criminals operate without boundaries; we've got to be operating on that international dimension as well. It's the only way to be effective against these modern criminals."
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