Europol claims to have dismantled an organized crime group that had swindled US banks out of $14.4 million. According to Europol, the organization launched a single-day operation in which Spanish …
A Massive Fraud Operation Stole Millions From Online Bank Accounts
IBM researchers claim that they have uncovered a widespread automated fraud operation that leveraged a network of mobile device emulators to stead millions of dollars from targeted bank accounts in …
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Cardless ATMs Introduce New Account Takeover Fraud and Money Laundering Risks, FBI Says
A Federal Bureau of Investigation liaison information report exposed in the Blue Leaks hack of sensitive law-enforcement data last July warned the financial services sector about scammers using …
BEC attacks increase in most industries, invoice and payment fraud rise by 155%
A recent report published by Abnormal Security found that BEC attacks have increased across most industries, accompanied by drastic upticks in invoice and payment fraud attacks. Abnormal Security …
Amazon Prime Day Spurs Spike in Phishing, Fraud Attacks
Security researchers have observed a recent spike in phishing attempts and malicious website creation that aims to defraud Amazon customers. Amazon Prime Day will occur over two days this year, the 13 …
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Ritz London suspects data breach, fraudsters pose as staff in credit card data scam
Scammers in London posed as staff members at the Ritz Hotel to steal credit card data from customers staying at the hotel. The Ritz is currently investigating the data breach, which occurred earlier …
Secret Service Launches Cyber-Fraud Task Force
The US Secret Service has announced that it plans to create a new task force to tackle financial crimes and cyber fraud. This move shows that the government recognizes the growing convergence of …
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Secret Service Warns of “Massive” Unemployment Fraud
The U.S. Secret Service has issued an alert regarding large-scale unemployment fraud relating to the Covid-19 crisis and targeting state unemployment insurance programs. According to the …
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First 100,000 Victims of Western Union Fraud Scheme Receive $153m
Western Union set up a remission fund to compensate the victims of a money transfer scam that hit thousands of its customers. The company states on Tuesday that it had begun paying approximately $153 …
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Microsoft Engineer Pleads Guilty to $10m Fraud Scheme
A former Microsoft engineer, Ukrainian citizen Volodymyr Kvashuk from Washington state is facing 20 years behind bars after being found guilty of attempting to defraud Microsoft of $10 million. …
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