Police in Moscow have arrested a group of hackers led by a 63-year old retired computer programmer, who they said was bitter about his small pension.

Police said the hackers worked from internet cafes in Moscow to steal numbers from credit cards belonging to clients in foreign countries.

Police said they then used the cards to make false purchases, using an online company they had created.

The hackers could face up to 10 years in prison, if convicted under Russian law.

According to police, computer fraud in the Russian capital costs businesses at least $12m a month.