Articles about Fraud

Ubiquiti stung US$46.7 million in e-mail spoofing fraud

Ubiquiti Networks has been defrauded of more than US$46 million by scammers who spoofed its communications. The heist was revealed in an SEC Form 8-K filing. Apart from the financial information, details are scant. The San Jose company says: “The incident involved employee impersonation and fraudulent requests from an outside …

Quadsys Five charged with fraud over data-slurping allegations

The boys in blue have charged Paul Cox, MD at Oxfordshire-based security outfit Quadsys, with fraud after he and others at the firm allegedly hacked into a rival security reseller to take data, including pricing info. Cox was among five bods arrested in March by Thames Valley Police (TVP) in conjunction with the National Crime …
Paul Kunert, 14 Aug 2015

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
Aster_fraud_Detection_Sphere

Teradata's Aster shows how the flowers of fraud bloom

Comment Teradata’s Aster Data software is a lens through which data scientists can create visualisations of Big Data. Sounds dull, right? Not when you see the beautiful flowery images it creates. The images are simply astounding and you can drill down through them, clicking on points and paths, to get at the underlying raw data. Here’s …
Chris Mellor, 23 Apr 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

Contactless card fraud? Easy. All you need is an off-the-shelf scanner

Consumer association magazine Which? has highlighted a security flaw in contactless card systems, which, if combined with a lack of checks by retailers, could be exploited by thieves to make expensive online purchases. Researchers bought contactless card-reading technology from a mainstream website before using it to remotely …
John Leyden, 23 Jul 2015

SEC: Ukrainian hackers' investment fraud ring raked in millions in 'unprecedented' hack

Analysis The computer hacking and securities fraud ring that was broken up by US authorities this week was "one of the most intricate and sophisticated trading rings that we have ever seen," the US Securities and Exchange Commission has said. Some 32 people were charged on Monday with offenses related to the scheme, which the SEC …
Neil McAllister, 14 Aug 2015
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
Ben Mezrich, Once Upon a Time in Russia: The Rise of the Oligarchs and the Greatest Wealth in History

Global cybercrime fraud boss ran secret pro-Moscow intel sorties

Black Hat 2015 The elusive head of one of the world's most successful online criminal gangs wanted by the FBI was quietly using the Gameover Zeus banking trojan for political espionage inline with Russian interests and may have the protection of Moscow, researchers contend. Evgeniy Mikhailovich Bogachev, better known online as Slavik, has …
Darren Pauli, 06 Aug 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
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
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

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

Judge greenlights class-action suit accusing AMD of securities fraud

A US federal judge has given the green light for a class-action lawsuit accusing AMD of securities fraud over the chipmaker's alleged failure to inform investors of problems with its manufacturing. The suit, first filed in January 2014 and amended in June of that year, accuses AMD of willfully misleading investors by withholding …
Neil McAllister, 01 Apr 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

German gets 4 years in clink for $14 MILLION global ATM fraud

A German man has been sentenced to 50 months in prison and ordered to repay $14m after he hacked into US banks, stealing debit card data and even removed withdrawal limits. Qendrim Dobruna, 29, also known as "closEd" and "cLoz", stole card data and spread it worldwide. The stolen credentials were used to make fraudulent ATM …
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
Old Bailey Lady Justice

Dodgy mobe dealer jumps on VAT carousel, gets 13-year ban

The director of now-dissolved mobile phone dealer Fima Consulting has been disqualified from managing a limited company for 13 years over his part in a £1m VAT scam, according to a UK government press release. Fiaz Razzak Malik was disqualified following an investigation by the Official Receiver at the Public Interest Unit, a …
Kat Hall, 13 Jul 2015
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 …

SMEs in the firing line as fake invoice scams skyrocket

UK small businesses need to be on heightened alert for fake invoices, following an alarming increase in this type of scam in the first six months of 2015. Action Fraud has received reports from 749 businesses reporting falling victim to this sort of con between January and June 2015 alone. This compares with 603 victims in the …
John Leyden, 25 Aug 2015

Carders fleece $4.2 million from Victoria's MyKi transport agency

Scammers have inflicted some AUD$4.2 million in damages of damage to Public Transport Victoria (PTV) by buying and selling MyKi travel cards loaded with cash stolen from credit cards. The agency in the southern Australian state coughed up the dough to international credit card holders whose cards were fleeced. MyKi cards are …
Darren Pauli, 25 Aug 2015
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

US yoinks six Nigerians to Mississippi on '419 scam' charges

The US Department of Justice has successfully extradited six Nigerians from South Africa to face charges of running a series of scams against gullible Americans over the past 14 years. The six men, along with 14 other defendants resident in the US, face trial in Gulfport, Mississippi on nine federal charges, including …
Iain Thomson, 14 Jul 2015
Disney's Beagle Boys

ID-stealing scammers had a bumper start to the year, reveals report

Incidences of identity fraud in the UK rose by more than 25 per cent in the first quarter of 2015, a new report has revealed. In total, 34,151 confirmed instances of identity fraud were recorded in the first quarter of 2015, a 27 per cent increase from Q1 2014. Identity fraud is when criminals abuse personal data to impersonate …
John Leyden, 27 May 2015
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

'Photof*cket' men manacled, indicted over Photobucket password-protected pic plunder

Two men, who were indicted and arrested Stateside on Friday for allegedly breaching pic-hosting website Photobucket.com, face conspiracy and fraud charges. The suspects, Brandon Bourret, 39, of Colorado Springs, Colorado and Athanasios Andrianakis, 26, of Sunnyvale, California, were cuffed and taken away for questioning, the U.S …
Kelly Fiveash, 09 May 2015

Phone scamming up 30 percent last year: Report

Retail and finance call centre phone scamming in the US is up 30 percent according to research. The 2014 findings are based on some 86 million scam calls a month picked up by Pindrop Security in which attackers aimed to obtain personal information on potential victims. The phone security company says one in 2200 calls are …
Darren Pauli, 18 Jun 2015
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
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 …

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

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” ( …
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

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, Facebook and chums launch web blacklist to nail ad scammers

Tech big wigs including Facebook and Yahoo! have forged a giant blacklist to block fake web traffic contributing to advertising fraud, said Google ad man Vegard Johnsen. The Trustworthy Accountability Group (TAG) pilot program will nix bot traffic using a blacklist which could cut a significant portion of web traffic; Google's …
Darren Pauli, 22 Jul 2015
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

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
hacker

Bloke thrown in the clink for hacking SIXTY PER CENT of Americans

A Vietnamese crook has started a 13-year stretch behind bars for hacking into corporate America, and offering to sell personal information on 200 million US citizens. Hieu Minh Ngo, 25, pleaded guilty to wire fraud, identity fraud, and access device fraud charges, and four counts of computer fraud and abuse. Judge Paul J. …
Shaun Nichols, 16 Jul 2015

Google yanks fake Android battery monitor

Zscaler has spoiled someone's app-spoofing sting, discovering a fake battery monitor app on Google Play. Worryingly, the spoof app seems to have gotten past Google's self-lauded Bouncer app vetting system. The company reckons the malicious version of the BatteryBot battery indicator app was probably trying to put together an …

Europol knocks out mobile cybercrime gang in Spain

Europol and la policía española have taken down a gang of alleged cybercriminals engaged in a fraudulent phone calls scam, said to have caused financial damaged estimated at €2m, as part of an operation codenamed "Walker". Coordinated police action in Barcelona on 6 July resulted in the arrest of nine suspects and the …
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
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