The New York Times reports that in what it is calling Operation Phish Phry, the F.B.I. began arresting 53 people on Wednesday on charges of conducting a vast financial fraud based on phishing — the act of tricking Internet users into revealing their passwords and other information.
The arrests were in Southern California, Nevada and North Carolina, while the authorities in Egypt sought to arrest 47 people whom the F.B.I. said were co-conspirators.
It's reported that the total amount stolen from Wells-Fargo and Bank of America totaled nearly $2M. The investigation into this fraud began in 2007 and authorities noted that this operation was very clean and well organized.
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