Articles about Fraud

Tax fraud fugitive nabbed after posting selfies

A US man charged with tax fraud and identity theft has been arrested after fleeing authorities and allegedly posting bragging selfies on Twitter. Lance Ealy, 28, of Ohio was arrested in a raid Wednesday in Atlanta by federal authorities after he skipped trial on charges he purchased stolen Social Security numbers and personal …
Darren Pauli, 20 Mar 2015
Paul Ceglia

Holy Zuck! Facebook fraud suspect VANISHES

Paul Ceglia – who was once alleged to have forged a contract to claim ownership of half of Facebook – has gone missing ahead of a planned fraud trial. His lawyer, Robert Ross Fogg, told Bloomberg that Ceglia had disappeared from his home and left behind an electronic tracking device that the suspect had been ordered to wear on …
Kelly Fiveash, 10 Mar 2015

Satyam Computing Services founder jailed over $1.4 BILLION fraud

The founder of former Indian outsourcing biz Satyam Computer Services has been jailed for six months for cooking the company's books to the tune of $1.4bn. The case has been rumbling on since Ramalinga Raju intially admitted the fraud in 2009 – a scandal that has been described as "India's biggest corporate fraud case", …
Kat Hall, 10 Dec 2014
Bank vault

Intuit halts TurboTax filings after states spot mass tax fraud scheme

Accounting software maker Intuit has temporarily suspended the ability of its TurboTax software to electronically file US state income tax returns following reports of widespread suspicious activity. "During this tax season, Intuit and some states have seen an increase in suspicious filings and attempts by criminals to use …
Neil McAllister, 07 Feb 2015
Apple phone payement.

Apple Pay a haven for 'rampant' credit card fraud, say experts

Apple and its banker pals may have inadvertently lowered the barrier to credit card fraud by adding pay-by-wave technology to iPhones, security experts fear. Payment cards can be added to Apple Pay by taking a photo of the card, and allowing a device to run optical character recognition over the image to fill out the long card …
John Leyden, 03 Mar 2015
Man in an orange jumpsuit clutches prison bars. Image by Shutterstock

Ex-Systemax execs Carl & Gilbert Fiorentino jailed over $27m fraud

Shamed former Systemax execs Gilbert and Carl Fiorentino were last night sentenced to five and six years in the slammer respectively for masterminding a $27m fraud when employed at the company. The Feds charged them in November with taking kickbacks from components suppliers in exchange for steering business to them, and with …
Paul Kunert, 04 Mar 2015

Carders offer malware with the human touch to defeat fraud detection

A new cybercrime tool promises to use credit card numbers in a more human way that is less likely to attract the attention of fraud-detection systems, and therefore be more lucrative for those who seek to profit from events like the Target breach. The "Voxis Platform" is billed as "advanced cash out software" that promises to …
Darren Pauli, 30 Oct 2014

Former Systemax execs charged over $9m fraud, tax evasion

The Feds have now charged ex-Systemax senior exec Gilbert Fiorentino and his brother and former colleague Carl, with allegedly perpetrating fraud to the tune of millions of dollars as well as evading tax. The criminal case was last night confirmed by the US Attorneys’ Office for the southern district of Florida and the eastern …
Paul Kunert, 21 Nov 2014
Paul Ceglia

Tough luck, Zuck! Man who claimed to own half of Facebook has fraud trial delayed six months

The man accused of trying to cheat Facebook founder Mark Zuckerberg out of half of the social network has had his fraud trial delayed by six months so he can take time to go over his case with his new lawyer. Paul Ceglia, who allegedly forged a contract he claimed gave him ownership of at least half of Facebook, was scheduled to …
Neil McAllister, 15 Sep 2014
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

Fraud shop OVERSTOCKED with stolen credit cards

Infamous carding store Rescator.cc is so chock-full of stolen credit cards from recent high-profile breaches that it's gutting its prices due to overstocking. The fire sale makes a mockery of the security in place at some of the world's biggest retailers, many of which have in recent months been invaded by hackers who have made …
Darren Pauli, 29 Sep 2014

Hey biz – cut fraud with digital ID verification. Yes, like Verify – Maude

Building identity (ID) assurance systems into "customer registration processes" could help businesses cut the cost of fraud, a UK government minister has said. Francis Maude said the Cabinet Office is working with "like-minded organisations" to look into the potential for ID assurance services to be used more extensively in the …
OUT-LAW.COM, 06 Feb 2015

BT Home Hub SIP backdoor blunder blamed for VoIP fraud

Flaws in a BT Home Hub set-up are being blamed for helping facilitate a VoIP scam. El Reg reader Keith Harbridge, an independent IT consultant, said his client, a firm of solicitors, is just one of number of companies stung by the scam, which occurred in early March. Independent security consultants at Pen Test Partners …
John Leyden, 25 Mar 2015
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
Disney's Beagle Boys

Phishers, scammers pile into worried Anthem customers in FRAUD FRENZY

Hacked healthcare corporation Anthem has had to issue a special warning to current and past customers as hackers have already started to work though records purloined earlier this year. "Individuals who may have been impacted by the cyber attack against Anthem, should be aware of scam email campaigns targeting current and former …
Iain Thomson, 07 Feb 2015
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
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 …
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

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

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
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 …
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
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
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

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” ( …
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

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
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 …
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

Jailed Brit con phishes prison, gets bail

A convicted British fraudster used a fake website and fake identities to trick prison officers into releasing him. Neil Moore — jailed for fraud worth £1,819,000 — used a smuggled mobile to post a website mirroring that of the Southwark Crown Court. He then emailed prison officers with instructions for his release, according to …
Darren Pauli, 30 Mar 2015
Gun and dollars

Ex-Autonomy execs: HP's latest wad blows apart fraud allegations

Another week, another round in the ongoing bunfight between HP and the former management team of Autonomy. This time, the ex-Autonomy bods have claimed that new court documents filed by HP prove the latter has misrepresented the reasons why it had to write down $8.8bn in its botched acquisition of Autonomy in 2011. In a lengthy …
Neil McAllister, 12 Sep 2014
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

SFO: 'Insufficient evidence' for conviction over HP-Autonomy deal

Updated The Serious Fraud Office has retracted its probe into the sale of Autonomy to HP in 2011 on grounds that the information presented to it provides "insufficient evidence for a realistic prospect of conviction". The investigation began in early 2013, following a referral from HP. In 2012, the company alleged Autonomy had "outright …
Kat Hall, 19 Jan 2015
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
The Queen Mother by Phil Houghton

Sony-blasting Lizard Squad suspects quizzed by UK and Finnish cops

UK police have arrested a suspected member of the infamous Lizard Squad crew. The 22-year-old from Twickenham, south-west London, was arrested by police on Tuesday, and questioned about alleged fraud against PayPal as well as claims he is reportedly linked to Lizard Squad – a group of cyber-miscreants who made headlines …
John Leyden, 02 Jan 2015

CSC confirms top exec suspended over Australian bank scandal

CSC has confirmed that one of its top brass – Eric Pulier – has been suspended, while it investigates allegations he gave kickbacks in the multi-million-dollar Commonwealth Bank of Australia IT contract fraud scandal. Police in the Australian state of New South Wales (NSW) recently charged a former employee of the Commonwealth …
Kat Hall, 01 Apr 2015
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

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

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
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
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 …
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 …
Crop of doctor with pen and clipboard

Premera Blue Cross is sick after hackers plunder their servers

Health insurance firm Premera Blue Cross has admitted that it has become the latest victim of data theft after hackers targeted its IT department's servers in what's been dubbed a "sophisticated attack". On May 5 last year online hackers successfully penetrated Premera's defenses and cracked servers containing personal, …
Iain Thomson, 19 Mar 2015

PoSeidon, brother of Zeus, forks up point of sale terminals

Cisco has found a new and stupendously badass breed of point of sale (POS) malware it says is meaner than the code that tore through Target. The "PoSeidon" malware is built on the shoulders of infamous Zeus money sucking exploit kit and sports improvements to BlackPOS which plundered millions from Target payment terminals in …
Darren Pauli, 23 Mar 2015

Calling all cybercrooks: Ready-made phone attack rig for sale

Cybercrooks are marketing a hardware-based tool for running denial of service attacks on telephone systems. The Telephone Denial of Service attacks (TDoS) rig is being sold by a group of cybercriminals called “TNT” from Eastern Europe via underground cybercrime forums. The tool, called “TNT Instant Up”, features a special …
John Leyden, 23 Feb 2015
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
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
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- …

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 …

Home Depot hacker hosing cost a wallet-draining $43m (so far)

Hacked hardware mart Home Depot has forked out $43m to quash spot fires emanating from the data breach inferno this year, SEC filing documents show. The payout covered damages from the theft of 56 million payment cards and 53 million email addresses. It covered the cost of investigating this year's five-month-long breach, …
Darren Pauli, 27 Nov 2014