Tag: fraud
Banks swamped by fake account scams
In an exclusive interview with Cyber Intelligence, Andy Sheldon, North American VP of US-based ID fraud specialist Deduce reveals how banks are now struggling to combat armies of fake account holders currently being generated by artificial intelligence (AI).
New cyber threat from North Korea
Microsoft has identified a new North Korean threat actor, Moonstone Sleet. Also known as Storm-1789, Moonstone Sleet has set up fake companies and job opportunities to engage with potential targets and has even created a fully functioning computer game designed to trap the unwary. The potentially hostile nation-state of North Korea has long been suspected of resorting to cybercrime, targeting the West to fund its military build-up and commit ongoing cyber espionage against countries such as the US and the UK. But Moonstone Sleet is taking cyber-attacks on the West to new levels of sophistication, posing a threat to all organizations. Microsoft says Moonstone Sleet “uses both a combination of many tried-and-true techniques used by other North Korean threat actors and unique attack methodologies to target companies for its financial and cyberespionage objectives.”
Officials Take Down the “911 S5 botnet” – May 30th
A US-led law enforcement sting operation against the global '911 S5 botnet' network was a major success. The 911 S5 botnet network of millions of compromised Windows computers was used to facilitate cyber-attacks, fraud, and child exploitation, among other illicit activities.
Indian elections targeted by cyber-attacks
India’s current elections have become a prime target for malicious cyber activity on the part of foreign threat actors and independent hacktivist groups. With the results expected to be counted on June 4, the spike in cyber-attacks is a stark warning for other countries such as the US, the UK and the European Union (EU), which are also holding national elections later this year. Cybersecurity company Resecurity reports that the early stages of cyber-attacks have been observed since the launch of an #OpIndia campaign last year. Escalating geopolitical tensions across the globe are now heightening the threat to India at this crucial time, with the number of attacks increasing by nearly 300% following the launch of #OpIsrael, which coincided with heightened online protests in the context of the ongoing Israel-Gaza crisis.
BogusBazarr signals red light for brands
By operating a “fraud-as-a-service’ (FaaS) website, BogusBazarr, operating out of China, runs 200 fraudulent webshops and has so far claimed 850,000 victims, mostly from the US and Western Europe. Victims who access BogusBazarr shops are offered amazing-sounding deals on shoes and apparel from well-known brands. But as the webshops are totally fraudulent, the victims end up having their credit card details stolen with nothing to show for it.
Online investment scams on the rise
Online investment fraudsters are becoming more devious and organized, making their increasingly sophisticated scams tough to detect for ordinary investors. A bust carried out by Europol and local European law enforcement on the perpetrators of the €645 million JuicyFields marijuana investment scam on April 11 is a prime example. Europol estimates that 550,000 investors worldwide, most from Europe, were drawn into the scam. Using bank transfers or cryptocurrencies, around 186,000 participants transferred funds to JuicyFields from early 2020 to July 2022. The JuicyFields fraudsters used advertisements on social networks to lure victims to their websites. These offered crowdsourcing investment opportunities in the cultivation, harvesting, and distribution of marijuana plants to be used for medicinal purposes. For a minimum initial investment of €50 in a so-called ‘e-growing’ opportunity, investors were promised to be linked with producers of medical cannabis.
Doppleganger mob set to spike US and UK elections
Russian hacktivists named Doppelgänger have been interfering in Germany’s elections with a view to influence the outcome of upcoming European elections, according to a report from SentinelLabs and ClearSky Cyber Security. “Doppelgänger represents an active instrument of information warfare. We anticipate that Doppelgänger’s activities, targeting not only Germany but also other Western countries, will persist and evolve, particularly in light of the major elections scheduled across the EU and the USA in the coming years,” says the report.
Cyberattacks leave school data encrypted – September 12th
In today's roundup; Cyberattacks encrypt UK school data, Russian threat actors may face lengthy imprisonment, and 'Charming Kitten' hacks 34 company systems.
GhostSec exposes Iran’s surveillance of its citizens – August 28th
Hackers hold Prospect Medical's data 'hostage' Hacker group Rhysida has been identified
Gambling Industry Hit by Cybercrime
In an exclusive interview with Cyber Intelligence, Ido Naor, Co-founder and CEO…