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Scareware ring busted, cyber palookas shut down, gave them a little chin music see?

This memo item brought to you by a poor imitation of Edward G. Robinson.

The FBI has shut down a gang of cyber crooks accused of netting $72 million peddling fake security software. The FBI, in conjunction with law enforcement agencies around the world, organized a series of raids were carried out in eight countries, including the United States and England.

From the BBC:

About one million people are thought to have installed the fake security software, also known as scareware, and handed over up to $129 for their copy. Anyone who did not pay but had downloaded the code was bombarded with pop-ups warning them about the supposed security issues.
Raids conducted in Latvia as part of the attack on the gang allowed police to gain control of five bank accounts used to funnel cash to the group's ringleaders.
No one has been arrested yet (they're on the lam!) but a lot of computer equipment was seized and will be analyzed.

About the author

John Moe is the host of Marketplace Tech Report, where he provides an insightful overview of the latest tech news.
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