Wednesday, May 29, 2013

Global Cyber Money Scam Worth $6bn Busted

The operators of the digital currency exchange Liberty Reserve have been accused of helping an international band of criminals launder more than $6bn (£3.9bn) in illicit funds.

US prosecutors allege the funds are linked to everything from child pornography to software for hacking into banks.

An indictment unsealed on Tuesday said Liberty Reserve had more than a million users worldwide, and virtually all of its business was related to criminal activity.

Attorney Preet Bharara has called the case perhaps "the largest international money laundering case ever brought by the United States".