FBI: Internet-fueled theft, fraud, and exploitation reaches cost of $2.7 billion

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The FBI’s Internet Crime Complaint Center (IC3) published its fifth annual Internet Crime Report last month. The report, based on information gleaned from 351,936 complaints of suspected Internet crime, found more than $2.7 billion in Internet-fueled theft, fraud and exploitation for 2018. According to the report, email scams wrought the highest level of financial losses […]

Law firms targeted in hacks seeking insider info

Last week, three Chinese hackers were charged with stealing inside information in order to profit from trading equities. According to an indictment unsealed Tuesday, Jan. 3, 2017, in the Southern District of New York, the three were charged with “devising and carrying out a scheme to enrich themselves by obtaining and trading on material, nonpublic information […]

CEO fraud: With billions lost, is your organization at risk?

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Social engineering is one of the most popular and oldest scam techniques that actually works. As we have already moved on to the cyber age, where our financial records, research and development data, social life or medical history exist online, it is really crucial that this kind of information does not fall prey to fraudsters. However, it […]

Enterprises could better use analytics to prevent fraud

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Given that we’re now in a digital economy in which millions of transactions are completed electronically every hour, one might expect enterprises to aggressively leverage technology to combat fraud. Instead, they’re being beaten to the technology punch by fraud artists, according to a recent survey by KPMG International. “Almost a quarter of fraudsters rely on technology,” the […]