Police in Brazil have arrested more than 50 people suspected of ripping off fellow Brazilians for $30m through internet fraud. The group are alleged to have raided online banking accounts after infecting victim's PCs with a "virus able to store details of people's internet bank accounts”, the BBC reports.
Brazil was described as the "global capital of hacking and internet fraud" at a conference of computer fraud experts in the country this month. Net fraud losses are outstripped losses through conventional bank robberies in Brazil, the conference was told. The growing problem was partially blamed on weak cybercrime laws in the South American country. ®