Articles about Fraud

fraud

Fraudster admits she was OPM dealer: Leaked US govt staff files used to bag cash, car loans

A woman has fessed up to using people's personal information, leaked online from the US government's Office of Personnel Management mega-hack, to take out loans and open bank accounts. Karvia Cross, 39, of Bowie, Maryland, USA, pleaded guilty on Monday in the eastern district of Virginia to one count of identity theft and …
Shaun Nichols, 19 Jun 2018
invoice

Scammers ahoy! International police operation harpoons 74 email whaling suspects

Police have carried out a worldwide wave of arrests that have seen 74 people detained and over $16m in purloined funds seized by suspected whalers, or business email compromise (BEC) fraudsters. Over the past few years the FBI has been targeting BEC fraud, a social-engineering scam to convince companies and individuals to …
Iain Thomson, 11 Jun 2018
Big bill

Fella gets 2.5 years in the clink for coughing up cell numbers in $50m junk text message scam

A bloke armed with a fistful of cellphone numbers has been sent down for 30 months for his role in a scam that fleeced folks out of $50m in bogus monthly charges. Christopher Goff was sentenced by a US federal district court in Manhattan after being found guilty on one count of conspiracy to commit wire fraud. He will also …
Shaun Nichols, 21 May 2018

Ex-Netflix veep allegedly banked payola for tech deals with web TV giant

A former vice-president at Netflix has been indicted for allegedly taking illegal kickbacks while making multimillion-dollar deals with the streaming giant's tech providers. The US Attorney's Office for Northern California, in the US, said Michael Kail, formerly the VP of Internet Technology at the online telly goliath, took …
Shaun Nichols, 2 May 2018
fraud

ID theft in UK hits record high as crooks shift to more vulnerable targets

Identity fraud in Blighty hit a record high of 174,523 incidents last year – and the vast majority of it happened online. According to the latest report by fraud prevention service Cifas, ID theft rose 1 per cent on last year. However, that is an increase of 125 per cent on 2007, the Fraudscape (PDF) report shows. Eight out …
Kat Hall, 18 Apr 2018
US boxing glove, photo via Shutterstock

Floyd Mayweather-endorsed cryptocoin startup knocked out by fraud allegations

Two men have been arrested on suspicion of spinning a "web of lies" to sell unregistered crypto investments. The US Securities and Exchange Commission has alleged that Sohrab "Sam" Sharma and Robert Farkas, who co-founded "financial services startup" Centra Tech, made "ill-gotten" gains of $32m from thousands of investors …
Rebecca Hill, 3 Apr 2018

Ex-Samsung man to serve 6+ years in prison for embezzlement

A former Samsung exec is headed to prison after losing his appeal on charges of wire and tax fraud. John Lee had pled guilty to the charges in 2008, admitting that while he served as a director for Samsung America's Korean export department between 2002 and 2007, he embezzled between $1m and $2.5m from the electronics giant …
Shaun Nichols, 15 Mar 2018

Bad blood: Theranos CEO charged with massive fraud

The woman heralded as "the next Steve Jobs" has been charged with massive fraud, forced to pay a $500,000 fine and been stripped of control of the company she founded. Theranos CEO Elizabeth Holmes was once pictured on the front pages of numerous tech and business magazines as a future leader in the industry. At one point was …
Kieren McCarthy, 14 Mar 2018

Stock trader gets two years in prison for pumping up with Fitbit

A US stock trader has been sentenced to two years in prison for running a pump and dump operation involving wearables vendor Fitbit, albeit one that earned him only a few thousand dollars. Robert Walter Murray was given the federal prison term after pleading guilty to one count of securities fraud. He had faced a maximum of 20 …
Shaun Nichols, 12 Mar 2018
Image by LuckyN http://www.shutterstock.com/gallery-1795121p1.html

Crims pull another SWIFT-ie, Indian bank stung for nearly US$2m

A year after the SWIFT international bank transfer system enhanced its security, another breach has emerged: an Indian bank has confirmed that criminals gained access to its systems and made transfers totalling US$1.8 million. The Kumbakonam-based City Union Bank issued a statement [PDF] on Sunday February 18, in response to …

T-Mobile US let hackers nick my phone number, drain my crypto-wallets, cries man who lost $20k

A bloke from Washington is suing T-Mobile USA after miscreants were able to steal his phone number and take all his crypto-coins. Carlos Tapang this week told the US state's western district court that the telco broke America's Federal Communications Act when, in November of last year, it allowed strangers to get control of …
Shaun Nichols, 6 Feb 2018

Customers reporting credit card fraud after using OnePlus webstore

A large number of OnePlus customers claim to have been hit by fraudulent credit card transactions after making purchases on the phone company's site. And they're unhappy that the company has been slow to address the issue. Dozens of fraud reports of unauthorised credit card use were posted through on the company's support …
Andrew Orlowski, 15 Jan 2018
Laptop user, photo via Shutterstock

UK.gov failing to prevent £10bn of annual online fraud, say MPs

The government is not doing enough to prevent Brits being defrauded by £10bn per year, according to a spending watchdog report. The Public Accounts Committee said today that 2 million cyber-related fraud incidents were reported last year, however it is estimated just 20 per cent of incidents are reported. Online fraud is "now …
Kat Hall, 6 Dec 2017
A businessman in handcuffs

SEC's cyber-cops cyber-file cyber-first cyber-fraud cyber-charges

The SEC's new online crime unit says it has frozen what officials believe to be a fraudulent cryptocurrency. The US securities watchdog claims Canada-based PlexCorps and its owners, Dominic Lacroix and Sabrina Paradis-Royer, are violating anti-fraud statutes by promising US investors impossible returns on investments in their …
Shaun Nichols, 5 Dec 2017
jail

Stop us if you've heard this one: Russian hacker thrown in US slammer for $59m bank fraud

A Russian hacker already facing a lengthy prison stay in the US has been sent down for another 14 years for heading up an "organized cybercrime ring" that racked up $59m in damages across America. Roman Valeryevich Seleznev, aka Track2, the 33-year-old son of a Russian MP, was sentenced after being convicted of one count each …
Shaun Nichols, 1 Dec 2017

This is no yolk. Newegg scrambles against rotten shell company claims

Updated Online electronics souk Newegg has been accused of taking part in a financial scam that duped banks in South Korea out of billions of dollars. This according to a complaint filed in the US District Court for Los Angeles by Industrial Bank of Korea, Nonghyup Bank, Keb Hana Bank, and Kookmin Bank. The lawsuit, filed late last …
Shaun Nichols, 23 Oct 2017
HMRC photo, Gov.uk

Watchdog slams HMRC, Amazon over 'dismal' response to UK biz hurt by online VAT fraud

HMRC, Amazon and eBay have not done enough to crack down on overseas sellers evading VAT in the UK, a “dismal” failure that has hit British businesses hard, the House of Commons' Public Accounts Committee said today. The select committee's report, Tackling online VAT fraud and error, warned that online sellers who do not …
Kat Hall, 18 Oct 2017
Bear

To Russia, with love: Greek court now says Bitcoin fraud suspect could be tried at home

A judicial appeals court in Thessaloniki, Greece, has backed Moscow's extradition request for Russian citizen and suspected Bitcoin launderer Alexander Vinnik, The Greek Observer reports. Last week a Thessaloniki court ruled he should be extradited to the US, a decision he is challenging at Greece's supreme court. Vinnik was …
Andrew Silver, 11 Oct 2017

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