Liberty Reserve arrests are causing 'pain' to criminals

[InfoSec News <alerts () infosecnews org>]

http://www.bbc.co.uk/news/technology-22699871

By Leo Kelion
Technology reporter
BBC News
29 May 2013

The takedown of the Liberty Reserve digital cash exchange has caused 
"pain" to criminals who used the facility, according to a leading 
security expert.

Brian Krebs said he had seen comments on crime-linked restricted access 
forums suggesting many had suffered "steep losses".

US prosecutors published an indictment against the site's staff on 
Tuesday.

It says they deliberately helped users "distribute, store and launder 
the proceeds of their illegal activity".

Costa Rica-based Liberty Reserve had essentially functioned as a "black 
market bank" which had "allegedly processed 55 million separate 
financial transactions, and laundered a staggering $6bn [£4bn] in 
criminal proceeds", said Preet Bharara, Attorney for the Southern 
District of New York, at a press conference.

[...]

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