Articles about Fraud

Fraud image

Half a meellion euros stolen in week-long bank smash 'n' grab

Attackers have pulled off a lucrative lightning raid on a single beleaguered bank stealing half a million euros in a week, Kaspersky researchers say. The crims stole between €17,000 and €39,000 from each of 190 Italian and Turkish bank accounts, with a single continuous attack. Man-in-the-middle attackers used stolen bank login …
Darren Pauli, 26 Jun 2014
gavel_judgment_channel

SEC bars ex-Systemax veep from director role in fraud deal

The SEC has barred former Systemax veep Gilbert Fiorentino from being a director of a PLC again after finding he "fraudulently" pocketed hundreds of thousands of dollars in compensation over five years. The disgraced exec, who had been CEO of the reseller's Technology Products Group, was put on administrative leave in April 2011 …
Paul Kunert, 18 Sep 2012

US retail giant Target fails to get banks' MEGABREACH lawsuit slung out of court

Target has failed in is attempt to persuade a judge to reject lawsuit by banks harmed by losses following the US retail giant's megabreach. US District Judge Paul Magnuson ruled that Target played a "key role" in permitting cybercriminals to infiltrate its computer networks. Because of this, a lawsuit by banks seeking to recoup …
John Leyden, 03 Dec 2014
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Brits conned out of nearly £24m in phone scams IN ONE YEAR

Brits have lost three times as much money in phone scams in the last year than they did the year before, according to Financial Fraud Action UK. The organisation, which works with consumers, retailers and the police as well as the financial services industry, said that 58 per cent of people said they’d received suspect calls, up …
Puss considers how to respond to PayPal marketing overtures

Average chump in 'bank' phone scam is STUNG for £10,000 - study

UK consumers have lost more than £21m to "social engineering" scams where fraudsters impersonated bank employees and tech support since the beginning of the year, according to GetSafeOnline. A range of tactics including phishing emails, fraudulent phone calls asking for personal or financial information or phone calls from …
John Leyden, 26 Jun 2014
Uncle Sam recruiting poster

Feds: Cheeky scammers are impersonating us in criminal capers

The FBI-backed Internet Crime Complaint Center (IC3) has issued an advisory warning that email scammers are impersonating it to extort money from gullible punters. The cyber-cop squad said several victims had been in contact after they received emails spoofed to look as though they are coming from IC3 itself. The emails state …
Iain Thomson, 25 Sep 2014
The Register breaking news

Conmen swipe 100,000 Brits' sensitive info in UK.gov fraud bid

Crooks attempted to defraud the UK government after swiping sensitive details on tens of thousands of civil servants, postmen, BT staff and public-sector workers, The Register has learnt. The audacious raid of personal information on state and private-sector employees is the subject of a two-and-a-half-year criminal …
Anna Leach, 27 Nov 2012
Mike Lynch

Autonomy founder attacks HP fraud charges with new website

British software entrepreneur and Autonomy founder Mike Lynch has launched a new website dedicated to airing his ongoing grievances with HP, which has accused him and other former Autonomy execs of misrepresenting the company's finances. The site, which is hosted at AutonomyAccounts.org, says it aims to provide "relevant …
Neil McAllister, 04 Dec 2012

Something smells PHISHY: It's the celeb nudie iCloud PERV trap...

Consumers are being warned to be on their guard against phishers' fake Apple emails and texts designed to exploit the publicity about this week's nude celeb picture flap. In addition to scam emails designed to trick gullible recipients into logging into phishing sites, Symantec warns of a likely upsurge in fraudulent text …
John Leyden, 04 Sep 2014
The Register breaking news

Crooks beat anti-fraud cops with old-school bank scams

Payment card and banking fraud losses fell this year against a rise in cash pilfered through old-school cheque and telephone banking fraud, according to figures released today for the UK. Total fraudulent losses dropped to £169.8m between January and June 2011, down 9 per cent from £187m in the same period last year. Losses fell …
John Leyden, 05 Oct 2011

DataStax slurps graph database biz Titan's brains

NoSQL database-start up DataStax is today expected to announce its plans to start developing and selling a graph database for enterprises. DataStax will announce it has bought Aurelius, whose team is behind the Apache-licensed Titan distributed graph database for Cassandra. Financial terms were not revealed. DataStax said the …
Gavin Clarke, 03 Feb 2015

StubHub hit by trans-Atlantic fraudsters, says New York DA

eBay's ticket-selling offshoot StubHub has admitted to a breach of some users' security by a ring of fraudsters. Reuters and AP have both received notification from New York district attorney Cyrus Vance of an event to be staged on Wednesday morning US time, at which the details of the attack will be revealed. Arrests in at …
Simon Sharwood, 23 Jul 2014

Not sure what RFID is? Can't hack? You can STILL be a card fraudster with this Android app

Cybercrooks have developed an Android app that makes it possible to hack RFID payment cards, researchers discovered after a Chilean transport system was defrauded. The app at the centre of the scam hacked into the user’s radio frequency ID (RFID) bus transit card in order to recharge credits. The fraud-enabling Android tool, …
John Leyden, 03 Dec 2014
Games for Windows Marketplace

Boomerang rebound: Site shut amid credit card securo-fears

Video game rental company Boomerang Rentals has pulled down the shutters on its websites amidst unconfirmed concerns that it have may have suffered a security breach that spilled customers' credit card details. Boomerang's homepage has been "down for maintenance" since Sunday. The move followed multiple customers reporting …
John Leyden, 12 Jan 2015
The Register breaking news

Penang fraud gang 'ringleader' snared by Taiwan police

The suspected ringleader of an internet and telephone fraud gang based in Penang, Malaysia, has been nabbed by police after being lured to Taiwan by his former gang-mates, it has emerged. A Taiwanese man known as Huang was reportedly arrested at Taoyuan International Airport near Taipei as he re-entered the country at the end of …
Phil Muncaster, 10 Feb 2012
The Register breaking news

UK fraud losses soar to over £38bn

Fraud cost the UK economy more than £38bn over the last 12 months, according to the latest annual statistics from the UK's National Fraud Authority. The figures represent an increase of nearly £8bn (or more than 25 per cent) for the losses recorded by the same Annual Fraud Indicator last year. Fraud in the public sector (£21.2bn …
John Leyden, 28 Jan 2011
PayPal inStore app in action

Credit card of PayPal PRESIDENT cloned by UK crooks

PayPal president's credit card got hacked on a UK visit, the victim revealed on Twitter. David Marcus said that an unidentified criminal used a skimming device and his credit card was cloned before "tons" of fraudulent transaction were made. The senior executive of the eBay-owned payment processing firm made sure to score a …
John Leyden, 12 Feb 2014
Suitcase bulging with cash

Yahoo! CIO sued for alleged kickback scam during his stint as Netflix veep

Yahoo! and its CIO Mike Kail may have a problem on their hands, after his former employer Netflix launched a civil suit against him for allegedly accepting kickbacks when he was working as their veep of IT operations. Netflix filed the suit in California this week, accusing Kail of taking “commissions” on products and services …
Bernie Madoff

Bernie Madoff's coders jailed for role in $65bn ponzi scheme fiasco

Two software developers who helped notorious crook Bernie Madoff pull off an $18bn fraud will each spend up to the next two and a half years behind bars. At a hearing in New York on Wednesday, US District Judge Laura Taylor Swain sentenced George Perez, 48, for his role in Madoff's infamous ponzi scheme – arguably the largest …
Shaun Nichols, 11 Dec 2014
australian credit cards fraud contactless

Hacker claims PayPal loophole generates FREE MONEY

A PayPal loophole can be exploited to earn free cash according to a convicted former NASA hacker turned white hat. Fraudsters can double their money, says Razvan Cernaianu, by funnelling cash into a mule account before filing for a transaction refund. To pull off the rort* a fraudster needs three PayPal accounts. One is a …
Darren Pauli, 13 Jun 2014
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Hacked and ashamed? C'mon, Brits – report that cybercrime

Internet-enabled frauds reached £670m across the UK in the 12 months running up to the end of August, according to new figures from the National Fraud Intelligence Bureau. Since the majority of internet-enabled fraud cases still go unreported, the true economic cost to the UK is likely to be significantly higher. The figures …
John Leyden, 21 Oct 2014
The Register breaking news

Stick punters' mugs on e-banking pages, that'll end fraud - Schneier

RSA Europe Cryptography guru Bruce Schneier called for more creative thinking and a broader perspective as a means to tackle security problems. For example, the music industry, faced with an explosion in online file-sharing, hired security pros to develop anti-piracy measures, such as digital rights management technology. But these …
John Leyden, 11 Oct 2012
australian credit cards fraud contactless

Teensy card skimmers found in gullets of ATMs

A series of tiny and sometimes transparent card-skimming devices have been detected in ATMs across Europe, researchers say. Boffins with the European ATM Security Team (EAST) have plucked out and displayed some clever thumb-sized skimmers that hide from victims' view by fitting in cash terminals' gullets. The devices paraded in …
Darren Pauli, 09 Jul 2014
Bank vault

Cops think Mt Gox meltdown was an 'INSIDE JOB' – report

Nearly all of the funds missing from bankrupt Bitcoin exchange Mt Gox were the result of fraudulent transactions, rather than outside attacks, Japanese authorities have reportedly said. Tokyo's Metropolitan Police Department (MPD) told The Yomiuri Shimbun newspaper on Thursday that no more than around 7,000 of the roughly 650, …
Neil McAllister, 03 Jan 2015
Nuclear bomb image

Intruder alert: Cyber thugs are using steganography to slip in malware badness

Common or garden cybercrooks have taken to using steganography – the art of hiding secret information within another image or message file – to run a click-fraud scam. Steganography has long been the stuff of spy trade-craft and cypherpunk novels, but now cybercrooks have made the practice downmarket by applying it to the Lurk …
John Leyden, 08 Aug 2014
botnet

We take bots down, but they get up again – you're never going to keep them down

A combined attack on one of the world's biggest networks of infected PCs has been partially successful: analysis from Dell SecureWorks shows you can't keep a bad botnet down. In 2013 infosec bods and the feds together disrupted the ZeroAccess network, which used a remotely controlled collection of more than two million slaved …
Iain Thomson, 30 Jan 2015

World's governments emerge enraged from mounds of red tape, screaming at ICANN

The world's governments have told domain name overseer ICANN that its processes are "complex, lengthy and ambiguous" and warned that they may be ineffective at dealing with domain-name abuse or fraud. The extraordinary statement comes in the official communiqué [PDF] of the Governmental Advisory Committee (GAC) of ICANN, …
Kieren McCarthy, 12 Feb 2015

Lads from Lagos using 'Predator Pain' on hapless 419 victims

Advanced-fee fraudsters are adopting the tactics of state-sponsored hackers in attacks targeting small- to medium-sized businesses, rather than large corporates, according to research from Trend Micro. 419 gangs are using the Predator Pain and Limitless keyloggers to steal network credentials through spear-phishing attacks, …
John Leyden, 13 Nov 2014
Brazil flag

Brazilian baddies bank Boleto billions

Brazilian bad guys appear to have made an astonishing $US3.75 billion by scraping a tonne of tiny transactions from a popular payment system used by locals, RSA researcher Eli Marcus says. The carders operating a single fraud ring may have netted enough over the last two years to foot 80 percent of Brazil's $4.7 billion World …
Darren Pauli, 03 Jul 2014

Roll up, come see the BOOMING HACKER BAZAAR!

Underground hacker markets are booming with counterfeit documents, premiere credit cards, hacker tutorials, and "complete satisfaction guarantees", according to a new report from Dell SecureWorks. The means to create a false identity are easily purchased through the cracker bazaars. A fake social security card can be obtain for …
John Leyden, 15 Dec 2014
australian credit cards fraud contactless

PCI Council wants YOU to give it things to DO

Crusaders at the Payment Card Industry Security Standards Council have called for submissions into projects for 2015. The council is responsible for PCI Data Security Standards (PCI DSS), a - to date - largely failed initiative to impose better credit card processing security by retailers. A Special Interest Group is accepting …
Darren Pauli, 27 Aug 2014
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Fraud charges for 3 former Torex execs

The Serious Fraud Office (SFO) is charging three former executives of Torex Retail Plc with fraud offences. The company came to the attention of investigators four years ago after a trading update in 2007 which claimed all was well was quickly followed by a profit warning. The SFO raided several properties as a result, and the …
John Oates, 05 May 2011
NSW Police car

Sydney coppers clobber cabbie carder crims

Sydney police have swooped on a fraud ring that implanted skimmers into taxis to clone customers' credit cards. Police on July 1 arrested four men involved in the ring including a 29 year-old taxi driver at Chullora, nabbed a fifth chap later that day, and raided a Sydney CBD unit where 800 credit cards, a laptop and cloning …
Darren Pauli, 11 Jul 2014
graph up

US judge rejects Oracle's fraud claim against HP

A US judge has dismissed an Oracle fraud claim against HP in the companies' ongoing legal battle over the Itanium platform. Last year, Oracle discontinued its software support for Itanium chips, alleging that Intel had made it clear the microprocessors' time was nearly up and that it would now be focusing on its x86 chips. HP, …
grab_that_cash

Who wants to be A MILLIONAIRE? Not so fast, Visa tells wannabe pay-by-bonk thieves

Visa Europe has downplayed a new attack that could steal hundreds of thousands in foreign currency over the air from contactless credit cards. The electronic robbery was devised by researchers at Newcastle University in the UK, but the banking giant claims the techniques used aren't feasible in the real world. The researchers' …
Iain Thomson, 05 Nov 2014
The Blue Mosque in Istanbul

HSBC Turkey WON'T reissue cards despite 2.7 MILLION account details going AWOL

HSBC Turkey has confessed to a security breach exposing the details of 2.7m credit card accounts but the bank has made a decision not to reissue cards after deciding that the data exposed is not enough to make fraudulent transactions. The compromise – limited to the international bank's business in Turkey – exposed credit card …
John Leyden, 14 Nov 2014
Kronos

'Father of Zeus' banking trojan appears at very reasonable price

A banking trojan dubbed the father of the infamous Zeus malware is being flogged on cybercrime marketplaces for a pricey $7000, says fraud specialist Etay Maor. The Kronos malware was sold on a cybercrime forum, pitched particularly to Zeus trojan customers given its capabilities to re-use that trojan's form grabbing templates …
Darren Pauli, 15 Jul 2014
The Register breaking news

Amazon, eBay, banks snub anti-fraud DNS tech, sniff securo bods

Despite the best attempts of security vendors, neither online stores nor the financial industry seem particularly keen to adopt DNSSEC tech - an anti-fraud mechanism that makes it difficult for fraudsters to spoof legitimate websites. DNSSEC (DNS Security Extensions) uses public-key encryption and authentication to guard against …
John Leyden, 18 Feb 2013
Sony smartband talk

Will hottest CES gadgets be HOT TARGETS for hackers?

This year, more than any other, personal technology dominated the conversation at consumer electronics shindig CES. Wearable and mobile technology was showcased at the expo, and many vendors touted the width and breadth of data collected and managed by these devices, What, then, is going to keep hackers from lifting all that …
Shaun Nichols, 09 Jan 2015
Tactical facepalm

Oz biz regulator discovers shared servers in EPIC FACEPALM

The Australian Securities and Investment Commission, which in 2013 accidentally blocked innocent Websites in an attempt to disrupt financial fraud, has told a government inquiry it didn't actually know what it was doing. In using what are called “Section 313 notices” under the Act to shut down fraud sites, the financial …
The Register breaking news

Auction fraud complaints prop up declining US cybercrime reports

US complaints about internet fraud dropped 10 per cent last year. The Internet Crime Complaint Center (IC3) fielded 303,809 reports of cybercrime in 2010, down from 336,655. The agency – maintained by staff from by the FBI and the National White Collar Crime Center – said the reduced figures were still the second highest in its …
John Leyden, 25 Feb 2011

Ultimate hardware hack: Home Depot nailed by vice merchants

Do-it-yourself kingpin Home Depot has confirmed a report it was breached indicating the compromise occurred in April this year. The US retail chain was working with law enforcement over compromise of payment terminals across stores in the country. Chief executive of the hacked firm Frank Blake admitted the breach in a terse …
Darren Pauli, 09 Sep 2014
Goodwill

Goodwill's goodwill rocked as Feds probe bank card hacking scam

American charity Goodwill is being investigated by US federal authorities as the possible ground zero for a major debit and credit card security breach. But the company says it thinks it's in the clear. "Goodwill Industries International was contacted last Friday afternoon by a payment card industry fraud investigative unit and …
Iain Thomson, 22 Jul 2014

Router creds admin/admin? Lizard Squad thanks you

Console DDoSers Lizard Squad are using insecure home routers for a paid service that floods target networks, researchers say. The service crawls the web looking for home and commercial routers secured using lousy default credentials that could easily be brute-forced and then added to its growing botnet. Researchers close to a …
Darren Pauli, 13 Jan 2015
Puss considers how to respond to PayPal marketing overtures

'Bank couriers' who stole money from OAP cancer sufferer jailed

Two men have been jailed following their conviction for running a series of courier fraud scams in south London, Surrey and Sussex. Shaun Moore, 22, of no fixed abode and Jevon Grant, 20, of Croydon were sentenced to 18 months imprisonment and two years in a young offenders' institution, respectively. Both pleaded guilty to …
John Leyden, 03 Apr 2014
The Register breaking news

MPs criticise banks on online fraud despite declining losses

A House of Commons Treasury Select Committee report has criticised banks for failing their customers in the fight against online fraud. Members of the influential committee criticised banks as being "unprepared" to deal with internet fraud as part of a wider study into retail banking, whose main conclusions called for greater …
John Leyden, 07 Apr 2011
Android logo

'Most advanced mobile botnet EVER' is coming for your OFFICE Androids

A newly discovered variant of NotCompatible is establishing what has been called the most advanced mobile botnet yet created. Security researchers at Lookout warn that the latest version of the Android malware is capable of infiltrating secure enterprise networks via compromised devices. NotCompatible uses a peer-to-peer control …
John Leyden, 19 Nov 2014
The Register breaking news

Euro fraud cops crush garlic tax evaders

The European Anti-Fraud Office (OLAF) says its new whistleblowing website has helped it extinguish a cigarette-smuggling ring and sniff out falsely labelled garlic. Since OLAF launched the internet-based Fraud Notification System last year, the number of fraud tip-offs has increased: previously, whistleblowers could leave a …
Disney's Beagle Boys

Four caged in UK after cyber-heist swipes €7m in EU carbon credits

Four men were jailed in the UK this week following the theft of millions of pounds in carbon-emission credits. The gang was convicted for their part in an operation that stole half a million credits – valued at €7m (£5m) at the time – from the Czech Republic’s carbon-emission registry back in January 2011. European carbon- …
John Leyden, 26 Sep 2014

Queensland cops collar League of Legends 'hacker'

A Queensland man has been arrested, accused of hacking League of Legends and selling player data online. According to Queensland Police the 21-year-old, identified by News Limited as Shane Duffy of Kingaroy, unlawfully accessed Riot's network, databases and files, and hijacked the company's Twitter account. The police say they …