Hacker Sentenced To Prison After Using Stolen Information To Hack Into Financial Accounts

A Massachusetts man has been sentenced to 30 months in prison after using stolen information to hack into financial accounts and attempt to steal more than $15 million.

Lamar Taylor, 38, was charged with one count of conspiracy to commit wire fraud, access device fraud and identity theft in a Trenton, N.J. court, according to the Department of Justice press release. He allegedly coordinated with an international cybercrime group to “cash out” bank accounts and pre-paid debit cards in other peoples’ names.The list of financial institutions targeted by the group includes PayPal, Citibank, U.S. Department of Defense, Defense Finance and Accounting Service, Nordstrom Bank and JPMorgan Chase Bank.

Once inside the accounts, two of Taylor’s co-conspirators took money out and put it into the group’s own bank accounts and pre-paid debit cards. Taylor and others would then withdraw the stolen money from ATMS and make fraudulent purchases.

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Taylor admitted to the creation of these fraudulent accounts and cards without the consent of the individuals whose names were used. He also admitted to opening bank accounts in the names of identity theft victims, as well as using ATM and bank withdrawals to receive stolen funds, which he’d later pass along to higher-ups in the group,says scmagazine reporters.

The two other members of the group are from Ukraine going with the names Oleksiy Sharapka and Leonid Yanovitsky.

In reply to the sentence, Taylor accepted hacking, stealing and using the money of people without their consent. He also admitted that he was behind creating several bank accounts under fake names.

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