Articles about Fraud

Shocking crime surge – THE TRUTH: England, Wales stats now include hacking and fraud

Crime stats for England and Wales have shown a huge year-on-year increase. Don't panic, though: it's due to the inclusion of fraud and computer misuse offences for the first time. In a report published this week, the UK Office for National Statistics (ONS) reckoned there were 6.2 million reported incidents of crime in the 12 …
John Leyden, 20 Jan 2017

Dieselgate: VW pleads guilty, will cough up $4.3bn, throws 6 staff under its cheatware bus

In one of the toughest smackdowns in recent US corporate history, Volkswagen has pleaded guilty to Dieselgate fraud charges, and will cop a massive fine. Meanwhile, six staffers have been charged regarding the engine cheatware scandal and are facing the business end of a trial. According to the US Department of Justice on …
Iain Thomson, 11 Jan 2017
Image by LuckyN http://www.shutterstock.com/gallery-1795121p1.html

Two years on, thousands of unpatched Magento shops still being carded

More than 6,000 online stores running eBay's Magento platform have been hacked with credit cards stolen under a campaign that could span almost two years, Germany's Federal Office for Information Security says. Attackers are injecting carding malware on unpatched Magento shops, which steals payment information during …
Darren Pauli, 10 Jan 2017

National Lottery whacked with £3m fine for suspect ticket win

The National Lottery has been whacked with a £3m fine by the Gambling Commission over its failure to have proper controls in place to prevent a fraudulent ticket winning. It followed a probe by the regulator into allegations that a £2.5m fraudulent National Lottery prize had been paid in 2009, but which only came to light last …
Kat Hall, 16 Dec 2016

Expedia support tech raided his CFO to rack up insider trades

Former Expedia worker Jonathan Ly has admitted to hacking his own chief financial officer and investor relations head to commit US$331,000 in insider stock-trading. Ly, 28, of San Francisco, pleaded guilty to securities fraud in a Seattle District Court and faces up to 25 years prison and a US$375,907 settlement including some …
Team Register, 9 Dec 2016
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, 5 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, 5 Dec 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
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, 7 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, 7 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, 4 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 …
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
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
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
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
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, 6 Oct 2016

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