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Tag Archives: fraud

Special Task Force in India Uncovers Credit Fraud Group

Police in Uttar Pradesh, India, recently discovered a group of “techies and students” that bought and sold credit card numbers. The group used the stolen credit cards to buy expensive items on the internet. And then resold them at low prices to their friends. A Special Task Force (STF) of UP Police found the group while investigating fraud for an ... Read More »

Five National Guard Members Charged for Bitcoin Fraud

Recently returned and unsealed indictments accused Five National Guard guardsmen for Bitcoin, credit card, or access device fraud. All four defendants used Bitcoin to purchase stolen debit and credit cards from the internet. Then, according to the indictment, the men encoded blank cards with the stolen ones and made fraudulent purchases at Army and Air Force Exchange Service (AAFES) stores ... Read More »

Fraud Group Used Stolen Databases to Pick Victims

Marking an important moment in an investigation that started last May, the Civil Guard in Murcia, Spain arrested two key players of a identity fraud ring. The investigation took place under the name “Operation Darkweb,” (but not to be confused with an ongoing drug investigation in Spain). This investigation pinpointed into two men who participated in a network of fraudulent ... Read More »

Two Members of a Spain-based Mobile Phone Fraud Network Arrested

Two persons were arrested in Jumilla, Spain for being part of a network that fraudulently purchased smartphones from service providers. The Civil Guard of the Region of Murcia carried out a law enforcement action, called “Operation Darkweb” in Jumilla, to clarify a series of scams in the acquisition of mobile phones. The operation resulted in the arrest of two people ... Read More »

Germany Facing Record Levels of Internet Fraud

A recent case in Germany revealed just how common fraudulent online storefronts have become. The Munich District Court heard a case that exemplified the fraud issues in Germany. And Matthias Huber, public prosecutor, explained the reason similar shops kept causing problems for the general public—and the police. The biggest issue that victims often face, he explained, was that fraudsters usually ... Read More »

Barclays to Renovate Security, Hopes to Cut Fraud by 75%

Barclays called financial fraud a “national resilience issue” in a recent anti-fraud announcement wherein they spoke of the prevalence of the so-called “invisible” crime. The bank revealed plans for a $12 million advertising campaign as a step towards fraud prevention. Younger account holders between the ages of 25 and 34 were at twice the risk for financial fraud than “older ... Read More »

Officials to “Keep Up“ With Synthetic Identity Fraud

According to reports from the U.S. Attorney’s Office for the Northern District of Georgia, cases involving “synthetic identities” are among the fastest growing forms of identity fraud in the United States. U. S. Attorney John Horn announced that the Attorney’s Office will keep up, or at least remain current, with the fraud. While reports of synthetic identity use date back ... Read More »

Netherlands Identity Fraud Doubled Between 2015-2016

Increased levels of fraud, in general, should come as no surprise. And even less of one after glancing at the DeepDotWeb frontpage where no mistake regarding fraud, cybercrime, or hacking could possibly be made; on almost a daily basis, a new indecent occurs. A major company takes a hit, the United States indicts another hacker, or researchers find a new ... Read More »

Tax Fraud Up 6,000 Percent as W-2s Fill Darknet Markets

Internet scams are nothing new. Every time one scam gets outdated, the scammer move from one scam to the next. And while people may have learned that those emails never came from African prince and princesses, they started falling for new scams. IBM’s X-Force found a 6,000 percent increase in email fraud between December 2016 and January 2017. The researchers, ... Read More »

UK Identity Fraud Hit Record Levels in 2016

Cifas, a not-for-profit organization working to fight fraud in the UK, warned the public that identity fraud numbers hit record levels in 2016. In addition to the warning, the fraud prevention group noted that 88 percent of all recorded identity fraud occurred online. Fraudsters used several methods of obtaining personal information last year; methods ranged from the classic mail theft ... Read More »

Is Unsupervised Machine Learning the Next Step in Fighting Fraud?

Once the era of Internet privacy concern set in, hackers and and their adversaries—security researchers—began examining invasion breaches as they occurred. In a very tongue-in-cheek phrase, the “cat and mouse” game showed a serious advantage towards the hackers. Modern technology started changing this for both the threat actor and defensive entity, but upcoming technology may force a role reversal. Antivirus ... Read More »

Feds Indict A “Top Ten” Email Spammer For Wire Fraud

A 36-year-old from Scottsdale, Arizona, just learned of a ten-count indictment filed against his name. The indictment charged Michael Persaud of only wire fraud—ten counts of wire fraud. In addition to the charges related to computer crimes, the federal indictment called for the forfeiture of four computers used to send millions of spam emails to recipients both in the United ... Read More »

Member of $71m Cybercrime Group Sentenced for Wire Fraud

According to US Attorney Annette L. Hayes, US District Judge Thomas S. Zilly sentenced another individual in connection with a massive “ScareWare” scam. The defendant, a 37-year-old citizen of Belarus named Alexander Mihailovski, pleaded guilty to conspiracy to commit wire fraud in 2016. Although the FBI named Mihailovski in 2012 indictment, Mihailovski avoided any run-ins with law enforcement until police ... Read More »

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Coin.mx Operator Admits Fraud and Money Laundering

On Monday, January 9, 2017, the United States Attorney for the Southern District of New York announced the long-awaited guilty plea in the Coin.mx case. Preet Bharara, the aforementioned US attorney, said Anthony Murgio, the owner of Coin.mx, pleaded guilty in front of U.S. District Judge Alison J. Nathan. Murgio, according to the recently released court documents, illegally processed more ... Read More »

Indian Government is Training Policemen to Crackdown Electronic Fraud

Indian government and law enforcement are allocating increased capital in training police officers to crackdown electronic fraud involving online transactions. A facility was launched in the police headquarters in Kasaba Bawada to ensure police officers obtain necessary information and technical expertise to detect electronic fraud. Sohali Sharma, superintendent of Police, announced: “In Kolhapur district, new software and machines have been ... Read More »