PayPal Fraud Probe Leads To Arrest

An investigation into alleged fraudulent activity regarding PayPal has led to an arrest in London, reports say.

An unnamed 22-year-old individual, reportedly linked to hacker group Lizard Squad, was arrested and held on suspicion of fraud, false representation, and violation of the Computer Misuse Act, the Thames Valley Police said in a statement on Wednesday (Dec. 31). The arrest happened a day prior to the announcement.

Authorities said the arrest was made as part of an ongoing investigation into suspected fraud offenses against PayPal that took place between 2013 and August 2014. During that time, police say PayPal customers reported stolen funds from their PayPal accounts.

Lizard Squad is the same group alleged to have conducted the high-profile hack of Xbox and Playstation 3 networks on Christmas Day, though the individual arrested is not suspected to be linked to that breach.

The 22-year-old was released on bail until March 10, reports say.

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