Largest fraud by an individual

Concluding in January 2001, porn webmaster Kenneth Taves is believed to have committed the largest fraud ever by a single individual with a total fraud of US$38 million (£25 million) unauthorised credit card charges. Taves was able to get a printout of credit card numbers belonging to nearly four million consumers who had bought items from merchants with accounts at Charter Pacific. The 49-year-old Malibu resident resubmitted as many as 800,000 of the credit card numbers to his merchant service with instructions to charge each account $19.95 (£13) per month. The Federal Trade Commission was first alerted to the Internet scheme in 1999 when angry consumers began flooding the agency with complaints and an investigation was launched with the support of the FBI.  Taves pleaded guilty in federal court and faces a maximum penalty of 30 years in prison.