Tags: fraud

US DoJ charges 36 members of Infraud

The US Department of Justice has unsealed an indictment against 36 members of the Infraud Organisation. The accused come from 17 countries and 13 people are already in custody. Infraud uses the strapline”In Fraud We Trust” and in the last seven years is believed to have traded more than 4.3 millions credit, debit and bank…

ONS says fraud and computer misuse more likely than robbery

The ONS has published its overview of fraud and computer misuse statistics for England and Wales. It has also published the dataset on which this is based. Taken together, the two make for some interesting reading and how a very different view to that of the cybersecurity industry. The Crime Statistics for England and Wales…

Confiant exposes scale of Zirconium malvertising

Cyber security vendor, Confiant, has exposed what it calls: “2017’s largest Malvertising Operation.” The details of its research has been published as a blog by Jerome Dangu, CTO, Confiant. It shows how the Zirconium group set up 28 fake ad agencies in 2017 and purchased 1 billion ad views. The scale of the campaign meant…

Experian claims fraud costs UK £190 billion per year

Credit service agency Experian has reported that the UK loses over £190 billion per year to fraud. That staggering number comes from its Annual Fraud Indicator 2017 report. £190 billion is equivalent to £10,000 per family. It is more than 9% of the UK’s projected GDP for 2017 ($2,496 (£2,080) billion according to Statistics Times).…

Is 555 the number of the scam?

The Home Office has released the Joint Fraud Taskforce Oversight Board Minutes from September 11. There are a number of interesting bits of information in the minutes and they provide a view as to what government is doing to reduce scams and fraud. Among the items that were discussed is the production of lesson plans…

Microsoft battling tech support scams

In a blog on the Microsoft website, Courtney Gregoire, Assistant General Counsel, Microsoft Digital Crimes Unit has written about the vendors fight against tech support scams. Gregoire is joining other vendors, the AARP, FTC and a number of other organisations at events to educate consumers in Washington state. The programme is called “Unmasking the Imposters”. …

IBM delivers blockchain solution to Santiago Stock Exchange

IBM is providing the technology to allow Chile’s Santiago Stock Exchange to become the first stock market in Latin America to introduce blockchain. The solution will be used to manage securities lending in the short selling system. Short selling is where a company or individual “borrows” shares to sell while hoping to buy them back…

Ramesh Gopinath talks blockchain

At IBM InterConnect, Ramesh Gopinath sat down with Enterprise Times to talk about blockchain and what IBM was doing with it. In just over a year IBM has managed to win around 400 different client engagements around blockchain. According to Gopinath, the big shift is the move from proof of concept (PoC) or blockchain tourism…

Gift cards under attack at 1,000 retailers

Distil Networks is reporting that over 1,000 of its customers are under attack from a new advanced persistent bot. The APB called GiftGhostBot is attacking gift card sites. Anna Westelius, Director of Engineering, Professional Services, Distil Networks disclosed the details in a blog. She says: “GiftGhostBot, automatically checks millions of gift card numbers to determine…