Articles about Fraud

fraud

Bloke sold cash register code to restaurants that deliberately hid sales from taxmen

A salesman sold cash register software that allowed business bosses to cheat on their taxes. John Yin, 66, appeared before the US district court in Seattle to plead guilty to wire fraud and conspiracy to defraud Uncle Sam. He faces up to 25 years behind bars and must cough up $3,445,589 to the authorities. Yin, of Everett, …
Iain Thomson, 05 Dec 2016

Guessing valid credit card numbers in six seconds? Priceless

Fraudsters can guess credit card numbers in as little as six seconds per attempt thanks to security gaps in Visa's network, academics say. The brute force attacks allow criminals to bombard Visa with card payment requests across multiple sites with each attempt narrowing the possible combinations until a valid card number and …
Darren Pauli, 05 Dec 2016
lottery

UK National Lottery data breach: Fingers crossed – it might not be you

Cyber criminals appear to be using passwords and email addresses from previous breaches to gain access to 26,000 online UK National Lottery accounts. Camelot, the company behind the National Lottery, detected the scam and subsequent attempted frauds and responded by locking down accounts, triggering compulsory password resets …
John Leyden, 30 Nov 2016
Bank vault

'Tesco Bank's major vulnerability is its ownership by Tesco,' claims ex-employee

A former techie at the UK's Tesco Bank reckons the recent high-profile breach may be down to security shortcomings at the bank's parent supermarket. Earlier this month Tesco Bank admitted that an estimated £2.5m had been stolen from 9,000 customer accounts in the biggest cyber-heist of its kind to affect a UK bank. The …
John Leyden, 30 Nov 2016
Ransomware, photo via Shutterstock

Ransomware scams cost Brits £4.5m per year

More than 4,000 Brits have had their computers infected with ransomware this year, with over £4.5m paid out to cyber criminals, according to Action Fraud. Ransomware is a type of malware that encrypts files of infected PCs before demanding an extortionate payment for the encryption key needed to recover data. The malware …
John Leyden, 28 Nov 2016
Election hacking

CompSci Prof raises ballot hacking fears over strange pro-Trump voting patterns

Donald Trump's surprise win in the United States' presidential election could conceivably be attributed to illegal hacking and needs to be investigated, according to a security expert. A statistical analysis by J Alex Halderman, professor of computer science at the University of Michigan's Center for Computer Security and …
Iain Thomson, 24 Nov 2016

Men overboard! US Navy spills data on 134k sailors

The United States Navy has revealed that the names and social security numbers on 134,386 current and former employees has leaked, thanks to the compromise of a laptop used by a Hewlett Packard Enterprise Services staffer. The IT contractor and the Naval Criminal Investigative Service probed the data loss finding that "unknown …
Team Register, 24 Nov 2016
Mobile banking, image via Shutterstock

Visa cries foul over Euro regulator's stronger authentication demands

The EU banking regulator’s plans to reduce fraud by obliging the use of passwords, codes or a card reader to authenticate electronic payments above 10 euros have drawn fire from the payments industry. Visa and others argue that mandated authentication checks put forward by the European Banking Authority risk disrupting online …
John Leyden, 23 Nov 2016

Sorry, iPhone fans – only Fandroids get Barclays' tap-to-withdraw

Barclays is trialling smartphone cash withdrawals. The UK's first contactless mobile cash service will allow the bank's customers to withdraw up to £100 in-branch, with just a tap of their Android smartphone or contactless debit card. The technology offers an alternative to traditional cash withdrawals from specially outfitted …
John Leyden, 23 Nov 2016

Deliver-oops! Takeaway pusher's customers burger-ed by hijackers

Customers of online takeaway firm Deliveroo are getting their accounts hijacked and charged for food they never ordered, according to an investigation by BBC One's Watchdog. Investigators from the campaigning TV consumer affairs programme uncovered evidence that scores of customers of the newly be-logo-ed Deliveroo are being …
John Leyden, 23 Nov 2016
image by Alexander_P http://www.shutterstock.com/gallery-493324p1.html

Credit cards ripped from Madison Square Garden venues in year-long op

Carders have spent a year stealing an unknown number of credit card numbers from iconic New York City entertainment venue operator Madison Square Garden, after breaching payment card processing systems. Madison Square Garden disclosed the breach and said it only impacted customers who paid for food, drink or merchandise in …
Darren Pauli, 23 Nov 2016
letters stuffed in a mailbox. Photo by SHutterstock

Snail mail thieves feed international identity theft rings say Oz cops

You may run security software, encrypt everything, protect your very complex passwords and use two-factor authentication for everything, but the humble mailbox and the snail mail it contains can still see your identity stolen. So say Police in the Australian State of New South Wales, where Fraud and Cybercrime Squad detectives …
Simon Sharwood, 23 Nov 2016
Screenshot of fake news item falsely claiming that the Pope had endorsed Donald Trump for the US presidency. SOURCE: screengrab from Pinterest

Facebook Fake News won it for Trump? That's a Zombie theory

Comment Facts all come with points of view Facts don't do what I want them to Talking Heads The internet is filled with things that aren’t true, the world discovered this week. Gosh. Who would have thought it? The platforms’ propagation of bogus “news” is the latest "blame anyone except us" theory to account for the election of …
Andrew Orlowski, 18 Nov 2016

Three to appear in court over TalkTalk hack

Three men are due to appear at the Old Bailey charged with various offences linked to an investigation into the mega TalkTalk hack a year ago. The investigation was launched in October 2015 by the Met's Falcon Cyber Crime Unit following the hack in which 157,000 of its customers' personal details were accessed. On Tuesday, 15 …
Kat Hall, 18 Nov 2016

IBM offers Trump its ideas to Make America Great Again

Big Blue's big boss, Ginni Rometty, is hoping to dance on the tightrope that Big Orange has brought to the White House. Trump's unexpected election puts the technology industry in a tight spot, because many associate it with the economic conditions Trump exploited throughout his campaign. Globalisation demonised as a destroyer …

'Ultimate Team' scheme: EA hackers charged for stealing in-game coins

A US man is facing felony wire fraud charges for allegedly stealing and reselling in-game currency for EA Sports' FIFA console games. Anthony Clark has been charged by the Northern Texas District Court with a count of Conspiracy to Commit Wire Fraud for his role in a scheme to automatically generate and then re-sell the …
Shaun Nichols, 14 Nov 2016

Adult FriendFinder users get their privates exposed... again – reports

Hundreds of millions of Adult FriendFinder (AFF) accounts appear to have been exposed once again. A database of usernames, emails, and passwords of footloose and fancy free members, along with those from associated websites, has leaked and surfaced online. The breach has not been confirmed by the site’s parent company …
John Leyden, 14 Nov 2016
A businessman in handcuffs

Former Autonomy CFO indicted in USA for misleading investors

Updated The long-running spat between HP and the company formerly known as Autonomy has taken another turn, with Autonomy's former chief financial officer Sushovan Hussain indicted in a San Francisco court last week. The move was immediately criticised by a collective of former Autonomy executives as the Department of Justice (DoJ) “ …

The state of today's machine learning: Short, wide, deep but not high

Comment Remember that kid in middle school who was deeply into Dungeons & Dragons, and hadn't seen his growth spurt yet? Machine learning is sort of like that kid – deep, wide, and short – and not so tall. But on the serious side, machine learning today is useful for a wide variety of pattern recognition problems, including the …
Man in an orange jumpsuit clutches prison bars. Image by Shutterstock

Flash crash trader takes plea bargain, cops to 'spoofing' and wire fraud

Navinder Sarao, the British trader accused of causing a "flash crash" from his parents' home in London, has pleaded guilty to wire fraud and illegal market manipulation. The indictment against Sarao alleged that he had committed 22 counts of fraud, which included "spoofing" – illegally manipulating the market by flooding the …
Fraud

Tesco Bank limits online transactions after fraud hits thousands

Tesco Bank has restricted the operations of current accounts after funds were looted from a reported 20,000 accounts. The UK bank has confirmed a fraudulent attack, which is under investigation. In the meantime it has suspended online transactions from current accounts, including contactless transactions. Customer can still …
John Leyden, 07 Nov 2016

Tech support scammers use denial of service bug to hang victims

Tech support fraudsters have taught an old denial of service bug new tricks to add a convincing layer of authenticity to scams. The HTML5 bug allows sites to chew up a mountain of processor capacity, causing browsers to hang. Scammers deploy the few lines of code needed to trigger the bug, hang browsers and then display a …
Darren Pauli, 07 Nov 2016
CenturyLink data centre

Embiggened CenturyLink flogs off data centres

Fresh from its giga-acquisition of Level 3 Communications, CenturyLink is selling off 57 data centres to a bunch of private venture firms. The company says it wants to put the US$2.15 billion it expects from the sale towards the Level 3 acquisition. A consortium led by BC Partners and Medina Capital (with Longview Asset …

Cisco's job applications site leaked personal data

Cisco has fixed a vulnerability in its Professional Careers portal that may have exposed truckloads of personal information. The networking giant has sent an email to affected users in which it says a "limited set of job application related information" was leaked from the mobile version of the website, blaming an "incorrect …
Darren Pauli, 06 Nov 2016
Fraud

El Paso city bungs $3.2m to email crooks pretending to be bosses

After keeping quiet for days, the city of El Paso, Texas, has finally admitted that it has fallen prey to "CEO fraud" emails that saw scammers funnel $3.2m from the authorities using bogus invoices. The city is building a $97m streetcar project in its downtown district, but red flags were raised in October when a key …
Iain Thomson, 04 Nov 2016
America

Alleged 2010 flash crash trader loses latest appeal against extradition to US

Navinder Singh Sarao, the British trader accused of illicitly making $40m and causing a stock market "flash crash" in 2010, has lost his attempt to appeal against extradition to the US. Sarao is accused of 22 counts of wire fraud, commodities fraud, commodities manipulation and "spoofing" between 2009 and 2014, in addition to …
Gareth Corfield, 03 Nov 2016
hacker

NullCrew's Canadian telco hacker thrown in the clink for four years

A member of the NullCrew group has been jailed for 45 months after pleading guilty to bag a reduced sentence. Timothy Justin French, aka Orbit, 22, was part of NullCrew – itself an offshoot of Anonymous. The gang gained notoriety with a series of high-profile hacks in 2012 and 2013, when French was 17, including hitting …
Iain Thomson, 02 Nov 2016
 Putting text-reading robots to work. Arthur_Caranta, CC BY-SA

Dark web myths busted

The dark web isn't all guns and drugs. Most of the content of the dark web (55 per cent) is legal despite its unsavoury reputation, according to a study by security intelligence firm Terbium Labs. The study, based on hard data and statistical analysis, found that legal pornography was widespread on the net’s underbelly. A …
John Leyden, 01 Nov 2016
fail

'Hacker' accused of idiotic plan to defraud bank out of $1.5 million

A newly unsealed indictment has detailed accusations of what appears to be one of the most inept pieces of computer crime in recent history. Dwayne Cartouche Hans Jr, 27, from Richland, Washington, is charged with computer and wire fraud, as well as money laundering charges, and accused of stealing $134,000 from a bank and …
Iain Thomson, 28 Oct 2016
Mr Robot: Credit USA Network

DMCA updated – toaster penetration testing gets green light in America

A year late, the US Librarian of Congress on Friday published an updated list of exemptions to the Digital Millennium Copyright Act's prohibition on circumventing digital access controls. These exemptions to Section 1201 of the DMCA describe the circumstances under which – until the rules get revisited in two years time – …
Thomas Claburn, 28 Oct 2016
Bitcoin, photo via Shutterstock

Bitcoin exchange boss going down for washing ransomware cash

A Florida ex-school board member has pled guilty to making a false statement in relation to the running of an illegal bitcoin exchange. The FBI says Anthony Murgio and Yuri Lebedev ran Coin.mx as an unlicensed currency exchange, cloaking transactions including facilitating ransomware payouts as "collectable memorabilia" and …
Darren Pauli, 28 Oct 2016
Doctors run to save patient. Photo by Shutterstock

Cyber-crooks menacing hospitals are put under the microscope

Cybercriminals are spreading into the healthcare sector even though the price per stolen medical record remains lower than for comparable financial account crime. From hospitals becoming victims of hacking attacks to Olympic champions getting their health records leaked by hackers, the health sector has become a major target …
John Leyden, 26 Oct 2016
Bitcoin, photo via Shutterstock

Euro Central Bank backs money laundering rules for virtual currency exchanges

Plans to bring virtual currency exchanges and digital wallet providers within the scope of EU anti-money laundering (AML) legislation have been backed by the European Central Bank (ECB). he ECB said it "strongly supports" the proposals to extend the Fourth Anti-Money Laundering Directive (AMLD4), noting that "terrorists and …
OUT-LAW.COM, 25 Oct 2016

Accountant falls for sexy Nigerian email scammer, gives her £150k he cheated out of pal

A lonely beancounter has been jailed after he fell for what appears to be a classic Nigerian email scam, and conned £150,000 out of a friend so he could bankroll his fake damsel in distress. Brian Ridpath, of Willesborough, Kent, England, was fooled into believing the story of Lisa Johnson, who emailed him X-rated snaps and …
Pyramid_of_CHeops_at_Giza

CEO of VoIP biz admits in court: It was all a $1.8bn Ponzi scheme

The CEO of VoIP telephone service TelexFree has confessed that his company was a front for a $1.8bn pyramid scam. In a Massachusetts district court on Monday, James Merrill pled guilty [PDF] to nine charges of conspiracy and wire fraud for his role overseeing the US branch of TelexFree – a VoIP phone service that American …
Shaun Nichols, 24 Oct 2016
Acronis_Notary_Certification

Acronis: Yep, we're using blockchain for backup now

Acronis's Storage software product for businesses and service providers uses blockchain technology to prove data has not been altered. Acronis, known for its backup software, uses the Storage product in its own cloud infrastructure, which has 12 data centres around the globe, protecting over 50PB of hot and cold data for more …
Chris Mellor, 21 Oct 2016

Banks don’t give a 2FA

The online security of a majority of UK banks is failing customers. Tests by consumer group Which? found that only five out of the 11 providers it tested offered two-step authentication for logins. Lloyds and Santander were among the banks faulted for not doing enough to protect consumers from ID theft and banking fraud. In …
John Leyden, 21 Oct 2016
Snake oil salesman

Kids today are so stupid they fall for security scams more often than greybeards

Millennials are more likely to fall for tech support scams than baby boomers, Microsoft says. The findings are revealed in a recent Microsoft study that saw it poll peeps in the United Kingdom, the United States, Australia and nine other countries. Redmond's not revealed the number of respondents. Tech support scams take on …
Darren Pauli, 20 Oct 2016
NBN Logo

nbn™ says nobody needs gigabit internet, trumpets XG-Fast at 8Gbps anyway

nbn™, the organisation building and operating Australia's National Broadband Network (NBN), has announced trials of fibre-to-the-curb and broadband-over-copper technology XG-fast that hit 8Gbps on 30 metres of copper in lab trials. It's also done tests that produced “5Gbps peak aggregate speed being achieved over 70 metres of …
Simon Sharwood, 17 Oct 2016

Forget malware, crooks are cracking ATMs the old-fashioned way – with explosives

Bank raiders are increasingly turning to explosives in order to break into cash machines. The European ATM Security Team (EAST) reports that ATM explosive attacks were up 80 per cent in the first half of 2016 compared to the same period last year. A total of 492 explosive attacks were reported, up from 273 during the same …
John Leyden, 14 Oct 2016

Blighty's Home Office database blunders will deprive hundreds of GB driving licences

The UK Home Office's dream of a database state – in which Theresa May's anti-immigrant policies can be automatically executed through SQL commands – now looks less likely. An independent review has slammed officials' for making critical mistakes through their handling of personal data. Hundreds of people have been refused …

That UK law that'll share Brits' private info among govt departments? Yeah, that'll need oversight

Plans to increase the UK government’s access to citizens' private records without the public’s consent should be subject to greater oversight, head of the Information Commissioner’s Office Elizabeth Denham has told MPs. In an evidence hearing with MPs on Thursday, she was addressing the proposals made in part five of the …
Kat Hall, 14 Oct 2016
Image by LuckyN http://www.shutterstock.com/gallery-1795121p1.html

Carders bag stylish sack shop Vera Bradley

American retail chain Vera Bradley has been breached by hackers who stole a yet unknown number of credit cards. The breaches affect customers shopping at its 112 stores and 44 outlets between 25 July and 23 September this year, but not its website. Attackers of unknown origin broke into the fashionable gravity-defying pouch …
Darren Pauli, 13 Oct 2016

Theranos investor sues

Controversial blood-testing company Theranos is being sued by one of its biggest investors over its "lies and misstatements." Partner Fund Management of San Francisco has sued the company in its corporate home of Delaware, claiming that the company engaged in securities fraud by providing false information about its technology …
Kieren McCarthy, 11 Oct 2016

London cops charge ATM malware hacker

London Police have continued to bag and tag criminals who installed malware in ATMs across the city, with the extradition of a Romanian man to the UK last week. Emanual Leahu was charged with conspiracy to defraud as part of a gang that stole some £1.5 million from ATMs across London in 2014. Gang members Grigore Paladi and …
Team Register, 07 Oct 2016
fraud

Reseller offered $$$ for old tech gear – then stiffed thousands with suddenly lower quotes

US trade watchdog the FTC has terminated second-hand electronics reseller Laptop & Desktop Repair in Sparks, Nevada – after the biz shafted people out of millions of dollars. The company, operating under such names as cashforiphones.com, cashforlaptops.com, ecyclebest.com, smartphonetraders.com and sell-your-cell.com, offered …
Iain Thomson, 06 Oct 2016
Prison

Bloke gets six years in slammer after fessing up to £4.75m tax scam

A businessman from Essex, UK, has been jailed for six years for claiming back sales tax on computer memory sold overseas in a deception also known at carousel fraud. Robert Waterman funded a lavish lifestyle of expensive houses, luxury cars and a Marbella holiday home through a scam in which he pretended to trade memory sticks …

Police raid India call centre, detain 500 in fraud probe

More than 500 call centre staff have been detained by police in India, after allegedly threatening US citizens and siphoning off their money. The raid was carried out by over 200 Indian police personnel across three separate call centres, according to reports. The operators are alleged to have posed as officials of US Tax …
Kat Hall, 06 Oct 2016
Bank vault

Moldovan Dridex millionaires to spend 12 years in jail

A pair of cybercriminals responsible for laundering millions of pounds stolen using a banking trojan have been sentenced to a combined total of 12 years in prison. Pavel Gincota, 32, and Ion Turcan, 35, are Moldovan nationals with Romanian citizenship. The duo made over £2.5m in criminal profits using the banking trojan Dridex …

Mastercard rolls out pay-by-selfie across Europe

Analysis MasterCard’s "selfie pay" will be coming to Europe next year after trials in the US, Canada and the Netherlands. The financial services firm  is rolling out biometric technologies that will allow European consumers to authenticate their identity without a password, but with a selfie, in order to provide customers with a more …
John Leyden, 05 Oct 2016