Tags: fraud

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…

Oracle banishes Blackburn dark cloud

Oracle have settled the Svetlana Blackburn case out of court. A filing was registered at the District Court of Northern California on 9th February. The Register published the notice of settlement here. The filing states that the case has been settled in principle. The origins of this court case go back to June last year. Svetlana…