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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
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

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

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” ( …
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
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

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
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 …
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 …
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
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

'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

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 …
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- …
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 …
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
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
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
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
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
Puss considers how to respond to PayPal marketing overtures

'Bank couriers' who stole money from OAP cancer sufferer jailed

Two men have been jailed following their conviction for running a series of courier fraud scams in south London, Surrey and Sussex. Shaun Moore, 22, of no fixed abode and Jevon Grant, 20, of Croydon were sentenced to 18 months imprisonment and two years in a young offenders' institution, respectively. Both pleaded guilty to …
John Leyden, 03 Apr 2014
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

Queensland cops collar League of Legends 'hacker'

A Queensland man has been arrested, accused of hacking League of Legends and selling player data online. According to Queensland Police the 21-year-old, identified by News Limited as Shane Duffy of Kingaroy, unlawfully accessed Riot's network, databases and files, and hijacked the company's Twitter account. The police say they …
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
The Register breaking news

Penang fraud gang 'ringleader' snared by Taiwan police

The suspected ringleader of an internet and telephone fraud gang based in Penang, Malaysia, has been nabbed by police after being lured to Taiwan by his former gang-mates, it has emerged. A Taiwanese man known as Huang was reportedly arrested at Taoyuan International Airport near Taipei as he re-entered the country at the end of …
Phil Muncaster, 10 Feb 2012
The Register breaking news

Amazon, eBay, banks snub anti-fraud DNS tech, sniff securo bods

Despite the best attempts of security vendors, neither online stores nor the financial industry seem particularly keen to adopt DNSSEC tech - an anti-fraud mechanism that makes it difficult for fraudsters to spoof legitimate websites. DNSSEC (DNS Security Extensions) uses public-key encryption and authentication to guard against …
John Leyden, 18 Feb 2013
management management1

HP clinches six week extension on whether to join shareholders' suit against Autonomy

HP has said that it has made decisions about how to proceed with a case brought by its shareholders over the $8.8bn writedown for the acquisition of Autonomy – but it wants six more weeks to mull them over. The company was given until last Friday to think about recommendations by a committee of independent directors over the …
The Register breaking news

UK fraud losses soar to over £38bn

Fraud cost the UK economy more than £38bn over the last 12 months, according to the latest annual statistics from the UK's National Fraud Authority. The figures represent an increase of nearly £8bn (or more than 25 per cent) for the losses recorded by the same Annual Fraud Indicator last year. Fraud in the public sector (£21.2bn …
John Leyden, 28 Jan 2011
graph up

US judge rejects Oracle's fraud claim against HP

A US judge has dismissed an Oracle fraud claim against HP in the companies' ongoing legal battle over the Itanium platform. Last year, Oracle discontinued its software support for Itanium chips, alleging that Intel had made it clear the microprocessors' time was nearly up and that it would now be focusing on its x86 chips. HP, …
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Fraud charges for 3 former Torex execs

The Serious Fraud Office (SFO) is charging three former executives of Torex Retail Plc with fraud offences. The company came to the attention of investigators four years ago after a trading update in 2007 which claimed all was well was quickly followed by a profit warning. The SFO raided several properties as a result, and the …
John Oates, 05 May 2011
management regulation1

Banks slap Olympus with £160 MEEELLION lawsuit

Just when it thought the dark days were behind it, camera purveyor Olympus has been slapped with a ¥28 billion (£160m) lawsuit from six trust banks over a long running accounting scandal. In a brief note on the company’s website, Olympus said it had received notice from the banks’ lawyers that they are seeking ¥27.9bn in …
Phil Muncaster, 10 Apr 2014

Feds charge three in brain-ache $15m Pentagon payroll pillage plot

Three men have been indicted in the US for trying to steal at least $15m by hacking into the Department of Defence's payroll service and customer accounts at 14 different financial institutions. The US Attorney's office in New Jersey has charged two men from Kiev in Ukraine, Oleksiy Sharapka and Leonid Yanovitsky, and a third …
The Register breaking news

China's internet wunderkind in the dock over alleged fraud

Chinese internet darling Qihoo 360 Technology has been accused by the research arm of hacktivist group Anonymous of deliberately overstating the volume of traffic to its site in order to attract advertisers, allegations which if true could see it kicked off the New York Stock Exchange. Qihoo has had a spectacular impact on its …
Phil Muncaster, 03 Jul 2012

You have a Skype voicemail. PSYCHE! It's just some fiendish Trojan-flinging spam

A spam run of fake Skype voicemail alert emails actually comes packed with malware, a UK police agency warns. Action Fraud said the zip file attachments come contaminated with a variant of the notorious ZeuS banking Trojan. Messages typically come with the subject line “You received a new message from Skype voicemail service”. …
John Leyden, 28 Nov 2013
Disney's Beagle Boys

Experian subsidiary faces MEGA-PROBE for 'selling consumer data to fraudster'

Several US states have launched an investigation into a subsidiary of credit reference bureau Experian after a fraudster allegedly bought millions of consumers' personal data from it. Vietnamese national Hieu Minh Ngo allegedly used information obtained through Experian subsidiary Court Ventures to run two identity fraud- …
John Leyden, 07 Apr 2014
The Register breaking news

Euro fraud cops crush garlic tax evaders

The European Anti-Fraud Office (OLAF) says its new whistleblowing website has helped it extinguish a cigarette-smuggling ring and sniff out falsely labelled garlic. Since OLAF launched the internet-based Fraud Notification System last year, the number of fraud tip-offs has increased: previously, whistleblowers could leave a …
The Register breaking news

Auction fraud complaints prop up declining US cybercrime reports

US complaints about internet fraud dropped 10 per cent last year. The Internet Crime Complaint Center (IC3) fielded 303,809 reports of cybercrime in 2010, down from 336,655. The agency – maintained by staff from by the FBI and the National White Collar Crime Center – said the reduced figures were still the second highest in its …
John Leyden, 25 Feb 2011