Press "Enter" to skip to content

The Global Cybercrime Enterprise – Overview

The hacker attack on JP MORGAN and other US financial institutions in 2014 is labeled by the U.S. authorities as the largest cybercrime case to date. Data of more than 100 million customers have been stolen in multiple attacks. This stolen data was used to perform a gigantic securities market manipulation to rip off U.S. investors. The operators of the cybercrime enterprise around Gery SHALON are supposed to have generated millions of profit at the expense of cheated U.S. retail investors.

According to the U.S. prosecutors, Gery SHALON was the “founder” and “principal” of this vast and globally acting cybercrime enterprise. Gery SHALON is the son of Shota SHALELASHVILI, a member of the Georgian parliament (MP) and deputy of the Georgian Dream Party. Thus, he is politically connected with Eastern Europe. SHALON is certainly as ingenious as he is unscrupulous as organizer and strategist behind his cybercrime enterprise. The indictment is really worth reading and maybe even more entertaining than some fictitious thrillers. SHALON has engaged with his Russian hacker friends for his cybercrime enterprise which provides the political ingredient to this thriller. Together with his friends Ziv ORENSTEIN and Joshua Samuel AARON, SHARON has, according to the U.S. prosecutors, established a worldwide network of companies and bank accounts. Partly with forged identities.

For the movement of the illegally acquired funds, dedicated payment service providers (PSP) such as IDPay and Todur were established. These PSP’s were also made available to other criminal companies. According to the indictment, with the PSPs alone, SHALON’s cybercrime enterprise is said to have generated illicit profits amounting to over USD 18 million.

Be First to Comment

Leave a Reply

Your email address will not be published. Required fields are marked *