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Brazil Pinches 85 Phishers

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TechWeb News
August 26, 2005 (1:57 PM EDT)

Brazilian police have arrested 85 people in connection with a phishing ring that pilfered over $33 million from duped consumers who handed over their online bank account usernames and passwords, the Reuters news wire service reported Friday.

The raid, dubbed "Operation Pegasus," was a multi-state crackdown that involved over 400 police officers and issued more than 100 arrest warrants after a four-month investigation.

Fraud in general, and phishing in particular, are serious problems in Brazil. The country's Computer Emergency Response Team -- its version of U.S. CERT -- recently released figures that shows e-fraud reports had more than tripled since April. Analysis done by the U.S.-based Anti-Phishing Working Group, meanwhile, has pegged Brazilian phishers as among the most aggressive and technically sophisticated in the world.....

Story: TechWeb News
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