The Justice Department announced the seizure of a stolen password database that was being used in schemes designed to carry out bank account takeover fraud. According to the announcement, law enforcement disrupted operations involving the theft and trafficking of credential data that enabled criminals to access victims’ financial accounts. The action is part of a broader effort to protect consumers and financial institutions from fraud and cybercrime by removing tools and infrastructure used by bad actors. The Justice Department emphasized that such stolen credential databases fuel a range of criminal activity, including unauthorized transfers from bank accounts.
The press release explains that the seizure occurred under an investigation into illicit online marketplaces and cybercriminal forums where stolen passwords and account information are bought and sold. By seizing the database, authorities aim to disrupt the ecosystem supporting bank account takeovers and hold accountable those responsible for disseminating the stolen data.
