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Articles about Fraud

australian credit cards fraud contactless

Kid crims don't need to skim: Paywave cards lead fraud rise

Victoria Police's top brass have criticised Australian banks for a rise in contactless credit card fraud arising from stolen tap and go cards. Chief commissioner Ken Lay told reporters theft of the cards - which did not require proof of ownership for purchases under $100 - had contributed to a 48 percent rise in deception crime …
Darren Pauli, 29 May 2014
Thumbs Up Desktop Phone

Japanese schoolkids arrested in £2.4 MEEELLION phone fraud bust

Three Japanese high school students have been arrested on suspicion of running a telephone fraud ring which may have netted them as much as ¥408 million (£2.4m). The 17-year-olds are thought to have carried out a string of crimes known in Japan as Ore ore (“It’s me”) fraud. Typically targeting the elderly, the fraudster will …
Phil Muncaster, 11 Apr 2014
Bitcoins

Brainboxes caught opening Bitcoin fraud emails. Seriously, guys?

Cybercrooks have launched a phishing campaign targeting Bitcoin users – and it's enjoying high response rates despite the seemingly random spraying of corporate email addresses with the spam-based scam. Security-as-a-service provider Proofpoint has detected 12,000 messages sent in two separate waves to more than 400 …
John Leyden, 22 Aug 2014
Chip-and-PIN Tetris hack

Chip and SKIM: How dodgy crypto can leave shoppers open to fraud

UK academics today describe how criminals can forge chip-and-PIN card transactions and spend other people's money for free. The team of University of Cambridge experts say their technique exploits a cryptographic weakness in some devices implementing the EMV (aka chip'n'PIN) standard. And they're confident they've found a …
John Leyden, 19 May 2014
The Register breaking news

UK fraud office hauls Olympus into court over accounting scandal

Japanese camera firm Olympus will be prosecuted by the UK's Serious Fraud Office along with its British subsidiary Gyrus Group following a £1bn accounting scandal at the company. The SFO has been investigating both companies after three of Olympus' former execs admitted to falsifying financial statements, overstating net assets …

Cops cuff 4 in £1m banking fraud malware case

Four people have been arrested and £80,000 in cash seized as part of a Met Police investigation into the theft of an estimated £1m from UK banks using malware. Two men, both aged 31, and two women aged 24 and 27, were arrested on suspicion of conspiracy to defraud and conspiracy to launder money during raids on properties in …
John Leyden, 12 Dec 2013
The Register breaking news

Brits' privates furtled in TWO-THIRDS of UK fraud cases

Two out of three fraud cases in the UK involved identity theft, according to Blighty's Fraud Prevention Service, CIFAS. Brits are reminded to guard their private data as closely as they guard their wallets and purses. The new figures suggest fraud rose to a record level in the UK in 2012 as more and more crooks obtained people' …
Anna Leach, 18 Jan 2013
SMS death threat scam

Internet fraud still stings suckers

Australians fell prey to online scams to the tune of around $AUD93.5 million in 2012, and reported nearly 84,000 “scam-related contacts” to the Australian Competition and Consumer Commission (ACCC). The Commission has just released the results of its 2012 report on scam activity, published as part of Australia's National …
Prison window

UK fraud squad bends over Serco, G4S for 'phantom crims' probe

The UK's Serious Fraud Office (SFO) has launched a criminal investigation into contractors Serco and G4S after an audit allegedly suggested the companies were massively overcharging for the electronic tagging of offenders. Sources in government told The Guardian that the two firms billed Blighty for monitoring at least 18,000 …
Iain Thomson, 05 Nov 2013
The Register breaking news

Big Data to battle fraud, cyber crime: EMC guard dog gets a Silver Tail

EMC has signed a deal to acquire web fraud detection specialists Silver Tail Systems. Financial terms of the deal, announced Tuesday, were undisclosed. In a statement, EMC said that Silver Tail’s technology bolsters RSA’s position in the web fraud detection market because its technology complements RSA’s anti-fraud products and …
John Leyden, 01 Nov 2012
Abbott and Costello dressed as policemen

Silicon Valley Cisco reseller charged with $37 million fraud

The boss of Silicon Valley Cisco reseller Network Genesis has been indicted for selling counterfeit kit and sub-price products bought by the networking company's staff. According to the federal grand jury indictment, Cuong Cao Dang, sometimes known as Calvin Dang, bought counterfeit hardware for his San Jose reseller business …
Iain Thomson, 26 Jul 2013
The Register breaking news

Pirate Bay founder Warg jailed for two years for hacking and fraud

Pirate Bay founder Gottfrid Svartholm Warg has been found guilty of hacking in Sweden and sentenced to two years' imprisonment. Warg, 28, was found guilty of breaking into the Swedish arm of IT services firm Logica before publishing the personal data of thousands of people, as well as hacking into Nordea (Scandinavia’s biggest …
John Leyden, 20 Jun 2013
Google Toilet Paper

Google hit by class action lawsuit over claimed AdSense fraud

A class action lawsuit has been filed against Google over allegations by a claimed former employee that the Chocolate Factory is defrauding users of its AdSense platform. The legal action, filed in the US District Court for the Northern District of California on Tuesday, claims that Google knowingly canceled the AdSense accounts …
Iain Thomson, 21 May 2014
The Register breaking news

Online retail drives card fraud in Oz

OK, so nobody uses cheques any more: as a result, fraud based on the venerable paper slip with a signature is now well-and-truly eclipsed by online credit card fraud, according to the Australian Payments Clearing Association. The APCA has released its latest survey of payment fraud, in which it reports that “card not present” ( …

Ex-Systemax veep cuffed, charged with $230m fraud

Carl Fiorentino, a former president at reseller Systemax, has been charged with accepting bribes worth millions of dollars in return for directing $230m worth of business to certain components suppliers. He was arrested yesterday and released on a $1m personal surety bond. If the name sounds familiar, that's because it is: his …
Paul Kunert, 19 Jun 2013
management research

UK Serious Fraud Office queues up to probe HP's Autonomy allegations

The UK Serious Fraud Office has told The Register it is investigating allegations of accounting irregularities at Autonomy, the Brit software house gobbled by HP for $10.7bn in 2011. In November last year, Hewlett-Packard claimed Autonomy "outright misrepresented" its value in the months before its acquisition, causing HP to …
Gavin Clarke, 12 Mar 2013
The Register breaking news

€1.5bn swiped from EU cards: Fraud mainly takes place in the US

Most of the credit and debit card fraud in Europe can be pinpointed to criminal transactions in the US, a police report has said. EU police service Europol said that the European Union had invested heavily in the 3-D secure protocol, offered by Visa as Verified by Visa and by MasterCard as Mastercard SecureCode, as well as on …
The Register breaking news

Universal Credit IT system could lead to MORE FRAUD, MPs warn

The number of benefit cheats in the UK could rise thanks to yet more IT problems with the government's new Universal Credit system, MPs warn. A communities and local government committee report published on Wednesday cast more doubt over the "readiness" of the Department for Work and Pensions' Universal Credit system - which …
Kelly Fiveash, 04 Apr 2013
Abbott and Costello dressed as policemen

UK gov dials 999 over Serco prison escort fraud claims

Outsourcing giant Serco is being probed by the cops over allegations of fraud relating to its Prisoner Escort and Custody Services (PECS) contract with the Ministry of Justice. Under the terms of the contract, Serco is supposed to ferry defendants from prison to court on time and is measured against this. The suspected fraud …
Paul Kunert, 29 Aug 2013
The Register breaking news

Fraud cops collar two blokes accused of dodging bank's 2-factor auth

Indian police have arrested two men who allegedly circumvented a bank's two-factor authentication protection and looted online accounts. The pair are suspected of buying victims' personal details from other crooks and then tricking mobile phone companies into giving the duo replacement SIM cards. Anyone in possession of these …
John Leyden, 21 Jan 2013
gavel_judgment_channel

Former HTC staffers charged with fraud, leaking company secrets

Five former HTC employees, including one former executive, have been charged in a Taiwanese court with leaking corporate secrets, accepting illegal kickbacks, and falsifying expenses. According to the Wall Street Journal, Thomas Chien, formerly VP of product design at HTC, has been charged with leaking details of a future …
Neil McAllister, 28 Dec 2013
The Register breaking news

'Broke' Estonian suspect pleads guilty to DNSChanger click fraud scam

An Estonian man has pleaded guilty to involvement in the DNSChanger click fraud scam. The Trojan infected 4 million computers worldwide, netting cybercrooks an estimated $14m in the process. Valeri Aleksejev, 32, pleaded guilty to fraud and computer hacking offences at a hearing at a US federal court on Friday, Reuters reports. …
John Leyden, 04 Feb 2013
The Register breaking news

Russia’s fraud-busting Webcams join the party

Seeking to reassure voters in Russia’s presidential elections that the poll would be fraud-free, Vladimir Putin ordered that Webcams be set up, complete with live streams, in 95,000 polling stations. However, while the cameras have failed to stem complaints about the electoral process that’s almost certain to deliver the …
The Register breaking news

Apple share dive scuppers trader's alleged get-rich-quick fraud scam

A US trader has been charged with fraud by the Feds over a get-rich-quick scheme involving over 2 million Apple shares and $1bn. The trader, David Miller, bought 1.625m shares in Apple on October 25 this year, the day that the fruity firm was scheduled to announce its earnings for the quarter. Miller told his bosses at Rochdale …

Qld Health payroll worker charged over fake overtime claims

Not only did Queensland Health's notorious botched IT upgrade cost the state upwards of a billion dollars: it's also alleged that the chaos created an opportunity for a dodgy worker to siphon tens of thousands of dollars from the department. The state's Crime and Misconduct Commission is alleging 46 counts of fraud against an …
bill_gates_ted_talk_screengrab

Gates' Corbis busted again for fraud

Corbis, the digital stock photo company founded by Bill Gates in 1989, remains embroiled in a protracted fraud case instigated by Seattle based Infoflows. In the latest instalment Corbis has been ordered to fork out US$12.75 million in damages by the Washington State Court of Appeals as part of the three-year fraud and breach of …
Google sign outside Mountain View headquarters

Google nets Spider.io to thwart fraudsters

Google is looking to boost the security and fraud prevention arms in its advertising business with the acquisition of London's Spider.io. The company announced on Friday that it had agreed to terms on a deal to integrate the fraud-detection specialist into its advertising services. The company will seek to help Google spot fraud …
Shaun Nichols, 22 Feb 2014
Fraud image

Half a meellion euros stolen in week-long bank smash 'n' grab

Attackers have pulled off a lucrative lightning raid on a single beleaguered bank stealing half a million euros in a week, Kaspersky researchers say. The crims stole between €17,000 and €39,000 from each of 190 Italian and Turkish bank accounts, with a single continuous attack. Man-in-the-middle attackers used stolen bank login …
Darren Pauli, 26 Jun 2014
homeless man with sign

Crims fall back on old-school cons to avoid anti-fraud tech

Crims are returning to more traditional cheque and telephone banking fraud techniques according to stats from the UK Card Association. Total losses on credit and debit card scams fell seven per cent to £341m in 2011 - the lowest since the turn of the millennium - and online banking fraud was down 24 per cent to £35.4m despite an …
Paul Kunert, 08 Mar 2012

Pollster says ID fraud less costly than we thought

Here’s a riddle for you: what’s the cost of identity theft and so-called “cybercrime” in Australia on an annual basis? If you answer “I don’t know”, you’re probably as close as most people. The latest data to be lobbed into the discussion is here, from Essential Research. Of its survey respondents – 995, the study had the same …
The Register breaking news

'World's BIGGEST online fraud': Suspect's phone had 'location' switched on

Two Russians arrested over their suspected involvement in the largest online fraud in US history were tracked down by analysing photos they posted to social media sites and tracking the location of one suspect's mobile phone, Reuters reports. Four Russians and a Ukrainian national were named as suspects in a credit card hacking …
John Leyden, 29 Jul 2013
The Register breaking news

Aussie fraud buster seized by global rival

Cybercrime buster ThreatMetrix has added Australian malware protector TrustDefender to its global fold. Following the acquisition TrustDefender will operate under the ThreatMetrix name with global operations in the United States, Australia and Europe. The corporate headquarters will be located in San Jose, California. The co- …
Puss considers how to respond to PayPal marketing overtures

Average chump in 'bank' phone scam is STUNG for £10,000 - study

UK consumers have lost more than £21m to "social engineering" scams where fraudsters impersonated bank employees and tech support since the beginning of the year, according to GetSafeOnline. A range of tactics including phishing emails, fraudulent phone calls asking for personal or financial information or phone calls from …
John Leyden, 26 Jun 2014
The Register breaking news

New study: 'Fraud behind two-thirds of pulled medical papers'

Medical boffins are rarely wrong when they publish in journals - but some are prepared to lie quite a lot, according to a new study on retracted scientific papers. Previous studies have claimed that most papers are pulled from publication because there's some error in them, but this fresh investigation claims malpractice is …
gavel_judgment_channel

SEC bars ex-Systemax veep from director role in fraud deal

The SEC has barred former Systemax veep Gilbert Fiorentino from being a director of a PLC again after finding he "fraudulently" pocketed hundreds of thousands of dollars in compensation over five years. The disgraced exec, who had been CEO of the reseller's Technology Products Group, was put on administrative leave in April 2011 …
Paul Kunert, 18 Sep 2012

StubHub hit by trans-Atlantic fraudsters, says New York DA

eBay's ticket-selling offshoot StubHub has admitted to a breach of some users' security by a ring of fraudsters. Reuters and AP have both received notification from New York district attorney Cyrus Vance of an event to be staged on Wednesday morning US time, at which the details of the attack will be revealed. Arrests in at …
Simon Sharwood, 23 Jul 2014
hands waving dollar bills in the air

Fraud a growth sector as UK economy stalls

Fraud is staging a come back in the channel as crims gamble on the desperation of some fretful business owners in the harsh economic climate. Stats from credit reference agency Graydon UK reveal a massive spike in fraud attempts, up 130 per cent for the first five months of 2011 to 214 cases, with company hijacking and cloned …
Paul Kunert, 27 Jul 2011
australian credit cards fraud contactless

Hacker claims PayPal loophole generates FREE MONEY

A PayPal loophole can be exploited to earn free cash according to a convicted former NASA hacker turned white hat. Fraudsters can double their money, says Razvan Cernaianu, by funnelling cash into a mule account before filing for a transaction refund. To pull off the rort* a fraudster needs three PayPal accounts. One is a …
Darren Pauli, 13 Jun 2014
australian credit cards fraud contactless

Teensy card skimmers found in gullets of ATMs

A series of tiny and sometimes transparent card-skimming devices have been detected in ATMs across Europe, researchers say. Boffins with the European ATM Security Team (EAST) have plucked out and displayed some clever thumb-sized skimmers that hide from victims' view by fitting in cash terminals' gullets. The devices paraded in …
Darren Pauli, 09 Jul 2014
Nuclear bomb image

Intruder alert: Cyber thugs are using steganography to slip in malware badness

Common or garden cybercrooks have taken to using steganography – the art of hiding secret information within another image or message file – to run a click-fraud scam. Steganography has long been the stuff of spy trade-craft and cypherpunk novels, but now cybercrooks have made the practice downmarket by applying it to the Lurk …
John Leyden, 08 Aug 2014
PayPal inStore app in action

Credit card of PayPal PRESIDENT cloned by UK crooks

PayPal president's credit card got hacked on a UK visit, the victim revealed on Twitter. David Marcus said that an unidentified criminal used a skimming device and his credit card was cloned before "tons" of fraudulent transaction were made. The senior executive of the eBay-owned payment processing firm made sure to score a …
John Leyden, 12 Feb 2014
The Register breaking news

Conmen swipe 100,000 Brits' sensitive info in UK.gov fraud bid

Crooks attempted to defraud the UK government after swiping sensitive details on tens of thousands of civil servants, postmen, BT staff and public-sector workers, The Register has learnt. The audacious raid of personal information on state and private-sector employees is the subject of a two-and-a-half-year criminal …
Anna Leach, 27 Nov 2012
The Register breaking news

Financial fraud hits 23-year high

High-end financial fraud hit a record 23-year high during the course of 2010, management accountancy and consultancy firm KPMG reports. KPMG's latest annual Fraud Barometer report records 314 incidents of fraud with a combined total of £1.4bn, up 16 per cent on 2009. This is the highest level recorded in the 23-year history of …
John Leyden, 12 Jan 2011
Mike Lynch

Autonomy founder attacks HP fraud charges with new website

British software entrepreneur and Autonomy founder Mike Lynch has launched a new website dedicated to airing his ongoing grievances with HP, which has accused him and other former Autonomy execs of misrepresenting the company's finances. The site, which is hosted at AutonomyAccounts.org, says it aims to provide "relevant …
Neil McAllister, 04 Dec 2012
Brazil flag

Brazilian baddies bank Boleto billions

Brazilian bad guys appear to have made an astonishing $US3.75 billion by scraping a tonne of tiny transactions from a popular payment system used by locals, RSA researcher Eli Marcus says. The carders operating a single fraud ring may have netted enough over the last two years to foot 80 percent of Brazil's $4.7 billion World …
Darren Pauli, 03 Jul 2014
NSW Police car

Sydney coppers clobber cabbie carder crims

Sydney police have swooped on a fraud ring that implanted skimmers into taxis to clone customers' credit cards. Police on July 1 arrested four men involved in the ring including a 29 year-old taxi driver at Chullora, nabbed a fifth chap later that day, and raided a Sydney CBD unit where 800 credit cards, a laptop and cloning …
Darren Pauli, 11 Jul 2014
Kronos

'Father of Zeus' banking trojan appears at very reasonable price

A banking trojan dubbed the father of the infamous Zeus malware is being flogged on cybercrime marketplaces for a pricey $7000, says fraud specialist Etay Maor. The Kronos malware was sold on a cybercrime forum, pitched particularly to Zeus trojan customers given its capabilities to re-use that trojan's form grabbing templates …
Darren Pauli, 15 Jul 2014
Goodwill

Goodwill's goodwill rocked as Feds probe bank card hacking scam

American charity Goodwill is being investigated by US federal authorities as the possible ground zero for a major debit and credit card security breach. But the company says it thinks it's in the clear. "Goodwill Industries International was contacted last Friday afternoon by a payment card industry fraud investigative unit and …
Iain Thomson, 22 Jul 2014
The Register breaking news

Stick punters' mugs on e-banking pages, that'll end fraud - Schneier

Cryptography guru Bruce Schneier called for more creative thinking and a broader perspective as a means to tackle security problems. For example, the music industry, faced with an explosion in online file-sharing, hired security pros to develop anti-piracy measures, such as digital rights management technology. But these …
John Leyden, 11 Oct 2012
The Register breaking news

Crooks beat anti-fraud cops with old-school bank scams

Payment card and banking fraud losses fell this year against a rise in cash pilfered through old-school cheque and telephone banking fraud, according to figures released today for the UK. Total fraudulent losses dropped to £169.8m between January and June 2011, down 9 per cent from £187m in the same period last year. Losses fell …
John Leyden, 05 Oct 2011