Jun 23, 2011 15:56 GMT  ·  By

The FBI has shut down two international cyber crime operations focused on the distribution of scareware applications and responsible for over losses of over $74 million.

Under the name "Operation Trident Tribunal," the FBI, assisted by law enforcement agencies from Ukraine, Latvia, Germany, Netherlands, Cyprus, France, Lithuania, Romania, Canada, Sweden, the United Kingdom, have seized 40 computers, servers, and bank accounts belonging to the gangs responsible.

One ring targeted by this law enforcement action is thought to have tricked 960,000 victims into buing licenses for fake antivirus programs at a price of up to $129.

The gang used various methods to trick users into downloading and installing the rogue applications, including displaying fake security alerts and malware scans on web pages. The damages are estimated at $72.

In addition, two Latvian nationals were indicted in Minneapolis for setting up a phony advertising agency and buying advertising space on legitimate websites for malicious purposes.

In one case they claimed to represent a hotel and managed to insert an ad which infected visitors with malware on the website of the a Minneapolis newspaper. This techniques is known as malvertizing and is believed to have earned the pair over $2 million.

"Cyber crime is profitable, and can prey upon American consumers and companies from nearly any corner of the globe. We will continue to be aggressive and innovative in our approach to combating this international threat.

"At the same time, computer users must be vigilant in educating themselves about cyber security and taking the appropriate steps to prevent dangerous and costly intrusions," said Assistant Attorney General Lanny A. Breuer of the Criminal Division.

Scareware distribution is one of the most common cyber criminal activities and the income it generates is regularly used to fund other type of scams or develop more malware.