FBI Arrests 53 People in Financial Phishing Scam

In what law enforcement officials are calling Operation Phish Phry, the FBI began arresting 53 people on charges of conducting a vast financial fraud based on phishing -- the act of tricking Internet users into revealing passwords and other information. The arrests were in Southern California, Nevada and North Carolina, while authorities in Egypt sought to arrest 47 people whom the FBI said were co-conspirators.