Articles about Fraud

George Osborne, photo: HM Treasury

Osbo slaps down Amazon and eBay – who'll be liable for traders evading VAT

Budget UK Chancellor George Osborne has said today the government will make online marketplaces such as Amazon and eBay liable for traders evading VAT in the UK - in his 2016 budget which outlined a swathe of tax cuts. The growing number of sellers based outside Europe and sell goods online without having a registered VAT number …
Kat Hall, 16 Mar 2016

Go ahead, build better security: it just makes crims try harder

Nullcon The chief security officer of payroll giant ADP says his executive peers will need to become technical if they want to have a future in the industry. Roland Cloutier, who has a stint as EMC's chief security officer on his CV, told the Nullcon security event in Goa, India, that executives must be a lot more technical than they …
Darren Pauli, 13 Mar 2016

UK fella is a multimillion-dollar cyber-hustle mastermind – US DoJ

A UK bloke living in America has been indicted by the US Department of Justice (DOJ) for allegedly running a multi-million-dollar online fraud operation. The DOJ claims 37-year-old Gareth David Long operated a series of schemes that allowed him to illegally withdraw money from the bank accounts of thousands of unsuspecting …
Shaun Nichols, 12 Mar 2016

HPE unleashes Machine Learning-as-a-service on Microsoft Azure

Hewlett Packard Enterprise is now flogging more than 60 machine learning APIs and services on a new cloud-based big data platform. Intended to extend big data tools to developers, the Haven OnDemand platform was beta released in 2014. HPE has today opened it up for general commercial use, offering data-wealthy wannabes the …
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Heartless hackers break into Florida cancer clinic network – 2.2 million records exposed

US cancer clinic 21st Century Oncology has admitted that a breach on its systems may have exposed private information on 2.2 million patients and employees. Unidentified hackers were able to access sensitive patient and employee data, including names, SSNs, diagnosis and treatment details and insurance information after …
John Leyden, 10 Mar 2016

Oracle gives apps a ticket to ride on Sparc M7's SQL warp drives

Oracle will today release, in its words, "a free and open API and developer kit" for the hardware-accelerated SQL-crunching engines in its Sparc M7 processors. You can register to grab the goodies, here. "We're opening up the interfaces to enable programmers using C/C++, Java and Python to effectively use these accelerators," …
Chris Williams, 08 Mar 2016
Mobile banking, image via Shutterstock

NatWest tightens online banking security after hacks' 'hack' exposé

NatWest is tightening up its internet banking systems after security shortcomings were exposed by journalists. BBC hacks were able to hijack a colleague's NatWest online bank account and transfer money without knowing her password. The UK bank's parent, Royal Bank of Scotland (RBS) Group, is also shoring up its security. …
John Leyden, 08 Mar 2016
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Bungling Seagate staffer leaked coworkers' social security numbers, other info to email fraudsters

Storage drive biz Seagate is lousy at keeping its own data safe: it accidentally handed over the crown jewels of its employees' private information to persons unknown. A Seagate employee was fooled by an email that masqueraded as an internal memo from the CEO: the message requested people's W-2 forms, and the worker duly …
Iain Thomson, 08 Mar 2016
Stacks of bitcoin CC2.0 attribution by FD Comite https://www.flickr.com/photos/fdecomite/

Beleaguered bank boss brought-up in Bitcoin bribery brouhaha

The head of a New Jersey credit union has been accused of turning control of his bank over to the operators of an alleged illegal Bitcoin exchange. On Thursday, the US Department of Justice (DOJ) charged Trevon Gross, the once-chairman of the HOPE Credit Union, with taking a $150,000 bribe from the operators of the coin.mx …
Shaun Nichols, 04 Mar 2016
Viewmaster Old Advert

We’re not holding biz to ransom, says pay to play ad-blocking outfit

Far from killing the advertising industry, ad blockers are saving it from itself, says the company behind AdBlock Plus. Eyeo was responding to headline-grabbing remarks by Culture Minister John Whittingdale earlier this week. Whittingdale didn’t name names, but compared ad blocking software companies who whitelist advertisers …
Andrew Orlowski, 04 Mar 2016
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If NatWest texts you about online banking fraud, don't click the link

British customers of the NatWest bank should be on their guard against a particularly convincing SMS-based phishing scam, Action Fraud warns. The spoofed texts being sent out by fraudsters “could catch you out if it appears in an existing message thread,” the UK's national fraud & cyber reporting centre advised on Wednesday. …
John Leyden, 04 Mar 2016

Machismo is ruining the tech industry for all of us. Equally

Opinion How people in IT treat one another is a subject whose taboo nature is having a deleterious effect on talent acquisition and retention. Some see it as chauvinism and machoism run amok, especially if their axe to grind is the lack of women in tech. Others have different views, but the topic is so charged that any attempt at …
Trevor Pott, 04 Mar 2016
Mobile banking, image via Shutterstock

Third of US banks OK with passwords even social networks reject

Six of 17 major US banks have weaker password enforcement procedures than most social networking websites, according to a new study by an American university. The banks ask users to set up passwords that include letters and special symbols, but a study by researchers at the University of New Haven shows that in around a third …
John Leyden, 03 Mar 2016
Mobile banking, image via Shutterstock

UK biz fails to report two thirds of cyber attacks, says survey

Just one-third of cyber attacks are being reported to the police, according to a wide-ranging survey from the Institute of Directors. According to the survey of nearly 1,000 IoD members, one quarter said they had experienced a cyber attack in the last twelve months. However, of those 250 directors, only 28 per cent reported …
Kat Hall, 03 Mar 2016

Turkish hacker pleads guilty to $55m maniac global ATM heist

The hacker behind an attack on the US banking sector that caused $55m in damages has pleaded guilty – and faces more than 57 years in prison. Turkish citizen Ercan Findikoglu, 34, admitted his role in an international syndicate including charges of computer intrusion conspiracy, bank fraud, and effecting transactions using …
Darren Pauli, 03 Mar 2016

You know how we're all supposed to automate now? Dark web devs were listening

RSA 2016 Security researchers have thrown the spotlight on a popular cybercrime tool that’s used by crooks to automate the process of taking over accounts on major websites before making fraudulent purchases. Sentry MBA, which is readily available for purchase on the so-called dark web, offer a way to break into accounts via a point- …
John Leyden, 02 Mar 2016
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Google risks everything if it doesn’t grab Android round the throat

Google is getting serious about building its own handsets after the failure of OEMs to update Android. So says former Nomura (now independent) analyst Richard Windsor, who thinks Google-as-an-OEM has already started. “I think that Google may start building handsets itself and my initial research indicates that a hardware team …
Andrew Orlowski, 02 Mar 2016
Prison

Former Systemax execs ordered to repay $35m to the biz

Two brothers who held high office at Systemax before being found guilty of perpetrating a multi-million pound swindle have been ordered to repay $35m to the company. Gilbert and Carl Fiorentino were sentenced in March 2015 to five and six years behind bars respectively for masterminding a $27m fraud at the reseller and one- …
Paul Kunert, 02 Mar 2016

Phew! No evidence found for global criminal hacker conspiracy

Trend Micro security bods have 'capped' their epic research efforts to catalogue the world's regional cybercrime undergrounds. The mammoth effort saw researchers crawl through criminal forums in five countries, documenting the nuances of each as they went. The security outfit's forward-looking threat research team detail the …
Darren Pauli, 02 Mar 2016
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Gov opens consultation on how to best to use your data

The government wants to introduce legislation to make it easier for local authorities and government departments to share citizen data without breaching the Data Protection Act, it said in a consultation opened this week. Proposals in the Cabinet Office's Better Use of Data (PDF) consultation are intended to give the …
Kat Hall, 01 Mar 2016

You're a cybercrime kingpin. You need a new evil lackey. How much do you tell them?

RSA 2016 Cybercrooks, much like ethical security defenders, are facing a skills crisis and difficulties in recruiting qualified staff. Their attempts to bring workers into criminal organisations leave it possible for experts to learn more about their strategies and tactics, according to new research from threat intelligence firm Digital …
John Leyden, 01 Mar 2016
EMC Cork's DSSD D5 unit

EMC’s DSSD all-flash array hits the streets, boasting 10m IOPS

+Comment EMC has launched its all-flash, rack-scale DSSD D5 array* offering 10 million IOPS and 144TB in 5U of rack space. Other headline numbers for what EMC calls its rack-scale flash array are 100 microsecond latency and 100GB/sec bandwidth. Consider the D5 product as being suited for “emerging next-generation applications based on …
Chris Mellor, 29 Feb 2016

IRS: Er, those 100,000 tax records illegally accessed? Make that over 700,000

The US Internal Revenue Service (IRS) has admitted that its problem with "Get transcript" scammers is much worse than first thought – over seven times as bad to be precise. In May of 2015, the IRS reported that around 100,000 people had had their tax returns and income forms sent out to criminals who gamed its "Get transcript …
Iain Thomson, 27 Feb 2016
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Medical superbugs: Two German hospitals hit with ransomware

At least two hospitals in Germany have come under attack from ransomware, according to local reports. The alarming incidents follow similar ransomware problems at the US Hollywood Presbyterian Medical Center. Both the Lukas Hospital in Germany's western city of Neuss and the Klinikum Arnsberg hospital in the German state of …
John Leyden, 26 Feb 2016

Rumor: IBM gobbles Bruce Schneier, Resilient for $100m

IBM is allegedly splashing a reported US$100m on buying incident response outfit Resilient Systems. Rumors of the deal were whispered by "persons with knowledge of the matter" to biz news website Xconomy. Founded in 2010 as Co3 Systems, Massachusetts-based Resilient was set up by serial acquisition target John Bruce (alumnus …

Hackers aren't so interested in your credit card data these days. That's bad news

Healthcare and government have overtaken the retail sector as most-targeted for data breaches, according to security firm Gemalto. A total of 1,673 data breaches led to 707 million data records being compromised worldwide during 2015, according to the latest edition of Gemalto’s Breach Level Index report. Not all breaches are …
John Leyden, 23 Feb 2016

Dangerous Android banking bot leak signals new malware wave

Android users could be hit with a new wave of dangerous banking malware following the leak of source code for a capable Android trojan. Users could be targeted with variants of the malware, known as "GM Bot", that is capable of harvesting usernames and passwords using slick keystroke-capturing website overlays. Since it …
Darren Pauli, 23 Feb 2016
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Storage bunfight: Hazelcast says Gridgain faked benchmark result

In-memory software startup GridGain has denied an allegation by Hazelcast that it committed benchmark fraud. This comes after GridGain published benchmark data showing it is faster than Hazelcast, which is one of its competitors. Hazelcast CEO Greg Luck believes that the GridGain "tests were faked, illegitimate and …
Chris Mellor, 22 Feb 2016

ADpocalypse NOW: Three raises the stakes

Analysis It’s WAR. CK Hutchison’s Three network will become the first UK mobile operator to block ads, threatening to undermine the $100bn mobile ad business, and app developers and publishers who depend on them. Three confirmed to us that apps will be starved of ads once the blocking is turned on. Although Three is the smallest of …
Andrew Orlowski, 19 Feb 2016
Pie chart inventor and scoundrel William Playfair could easily take his place at a cereal bar in Shoreditch

Meet the original Big Data, TED Talk, Thought Shower Futurist

Andrew at Large At the Battle of Ideas Festival at the Barbican last year, Claire Fox chaired a panel titled: “Is Technology Limiting Our Humanity?”, and invited me to take part. Panelists could give a seven-minute introduction. It’s now online as a video and podcast. Two avenues looked promising, and today I will give you an excerpt from …
Andrew Orlowski, 19 Feb 2016
Selection of Australian banknotes

RSA: Fraud may double as 2017 Oz snap bank transfers cut safety nets

Australia's long-awaited instant bank transfer reform will result in more fraud attempts and fewer theft recoveries according to RSA fraud boffin Tim Dalgleish. The reforms known as the New Payments Platform (NPP) is slated for operation late next year and is designed to push the antipodean banks to innovate, while providing …
Darren Pauli, 16 Feb 2016

PBX phone system hacking nets crooks $50 million over four years

A bloke has admitted laundering millions of dollars for hackers who ripped off US companies by hacking into their telephone systems. Miscreants in Bangkok and Pakistan wormed their way into American organizations' PBX systems and identified phone extensions that weren't assigned to a user but were still live. These were then …
Iain Thomson, 12 Feb 2016
IRS

Crims unleashed IRS-stabbing malware in bid to rob 464,000 people

Crooks generated the keys necessary to file tax returns for 101,000 people in the US – allowing the crims to potentially siphon off their victims' rebates. All American citizens, and tax residents in the US, must submit their annual tax forms by April 18 for this year. Surprisingly, you can do this online using the IRS's e- …
Iain Thomson, 10 Feb 2016
Night scene of bank station in central london

Open APIs for UK banking: It's happening, people

On Tuesday, an industry-led group published a new framework for supporting the use of open APIs in the banking sector. The UK Treasury is keen for banks to open up access to the data they hold on customers to other businesses to encourage innovation and boost competition in the sector. It tasked an industry-led Open Banking …
OUT-LAW.COM, 10 Feb 2016

Disney World-area University admits massive data breach

The University of Central Florida (UCF) has admitted that hackers who broke into its systems may have snaffled the personal details of more than 60,000 staff and students. The breach, discovered in early January but only made public on Thursday, exposed the social security numbers and other private information of 63,000 …
John Leyden, 05 Feb 2016

Arrow: Fraudsters impersonated one of our execs to steal money

Enterprise tech distributor Arrow Inc will take a $13m charge on the chin after a fraudster posing as a company exec transferred money from the corporate bank account to an external one. The admission came as Arrow outlined calendar Q4 numbers for the three months ended 31 December, with sales up six per cent year-on-year and …
Paul Kunert, 05 Feb 2016
Trotter's Independent Trading Co.

The Mad Men's monster is losing the botnet fight: Fewer humans are seeing web ads

Figures indicate that web advertisement fraud grew significantly in the last quarter of 2015 – and also showed that the UK’s ad biz is one of Europe’s poorest performers. Fraud checker Meetrics measures the “viewability” of online ads. If an advertisement isn’t viewable, one of several things may have happened, none of which …
Andrew Orlowski, 05 Feb 2016

Fired Norse Corp CEO blames the media

Norse Corp cofounder Sam Glines has hit out at the media after he was fired on Monday as CEO of the threat intelligence company. In January, The Register broke the news that Norse was laying off a sizable chunk of its workforce. Since then, the biz's website has been up and down, and it appears that its operations are grinding …
Iain Thomson, 04 Feb 2016

Alphabetti spaghetti: What Wall Street isn't telling you about Google

Alphabet, Google’s parent company, has made the front page with its latest financials – overtaking Apple as the world’s most valuable public company. But size isn’t everything. The numbers illustrate the nature of Alphabet’s grip over digital trade – with Alphabet really controlling the price of transactions, and what value …
Andrew Orlowski, 02 Feb 2016

Quadsys Five trial delayed yet again

The trial of five men from security reseller Quadsys, who all stand accused of fraud, was delayed yet again today. The men were charged last summer and attended a plea and case management hearing at Oxford Crown Court in December – but proceedings were held up until today's scheduled hearing, which was deferred by the court …
Paul Kunert, 29 Jan 2016

Would you like fraud with that? Burger chain giant Wendy's 'hacked'

Wendy's – the third largest fast-food chain in the world – has become the latest retail giant to lose customers' credit card numbers to crooks, it appears. The possible security breach was flagged up today by investigative journalist Brian Krebs. We're told fraudulent activity on people's payment cards led bank staff to …
Darren Pauli, 27 Jan 2016
Abbott and Costello dressed as policemen

Police Scotland will have direct access to disabled parking badge database

Police Scotland has been given direct access to Scottish councils' databases of disabled parking badge holders in order to crack down on fraudsters misusing them. An agreement was reached between the single Scottish police force, Police Scotland, and the country's 32 local authorities to allow the police direct access to the …

Airbus, Boeing aero parts maker loses $54m in cyber-stick-up

An Austrian engineering firm is counting the cost of poor IT security after admitting €50m ($54m) has gone missing from its accounts following a "cyber fraud." FACC Operations makes airplane parts for giants like Airbus and Boeing, and is majority owned by a Chinese holding company. It insists its intellectual property, …
Iain Thomson, 22 Jan 2016

Asda slammed for letting vulns fester on its cyber shelves

Supermarket chain Asda has come under fire for sitting on a potentially serious set of web vulnerabilities on its website for almost two years. As first reported by The Register on Monday, UK security consultant Paul Moore warned Asda about a shopping list of online vulnerabilities in March 2014. Asda upped the grade of its …
John Leyden, 21 Jan 2016

Ad-clicking bots predicted to rip US$7.2 billion from Mad Men

Botnets will inflict a massive US$7.2 billion in damages against online advertisers this year according to research by ad security company White Ops. Last year the industry was said to have lost US$5 billion, close to the $6.3 billion White Ops predicted in December 2014, thanks to the scourge of botnets that hugely inflate …
Darren Pauli, 20 Jan 2016

Prez Obama sends Iranian defense hacker home in prisoner swap

An Iranian hacker who attempted to steal military secrets from an American company has been sent back to the Islamic republic with a pardon, as part of a prisoner exchange program. Nima Golestaneh, 30, was extradited to the US from Turkey last year after being fingered for a hacking attack against US defense contractor Arrow …
Iain Thomson, 19 Jan 2016

Let's get GDS to build a public blockchain, UK.gov's top boffin says

The British government's Chief Scientific Adviser, Sir Mark Walport, has done a Dilbert and declared that the UK needs a blockchain. In an 88-page report (PDF) published today, Sir Mark explained how a distributed ledger could transform governance in the United Kingdom, and even suggested that the Government Digital Service …
Asda Recycling Site, Belvedere On Crabtree Manorway North. Copyright David Anstiss and licensed for reuse under this CC 2.0

Shop online at Asda? Website vuln created account hijack risk

Updated Retailer Asda dragged its heels for nearly two years before finally this week tackling a set of security vulnerabilities reported to it by a UK consultant. Asda has acknowledged the flaws - which Paul Moore, who discovered them, argues offer up an account hijack risk - but played down their significance. Moore told El Reg …
John Leyden, 19 Jan 2016
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IBM buys fraud sniffing biz for real-time protection

IBM has assimilated a German payment fraud prevention business, IRIS Analytics, a provider of a real-time fraud analytics engine using machine learning algorithms, for undisclosed terms. "By integrating IRIS Analytics with IBM's counter fraud technology, we will help organisations more accurately detect fraud at scale and …

Distil gets into a Scrape to boost bot defences

Distil Networks has bought managed security services provider ScrapeSentry in order to step up its fight against bots and ad fraud. Financial terms of the deal, announced on Wednesday, were undisclosed. Bots are routinely used by hackers and fraudsters alike in all manner of malfeasance including but not limited to competitive …
John Leyden, 13 Jan 2016