It is very clear from the figures released by the various fraud prevention agencies that there is a dramatic increase in cybercrime and real-time fraud. Should the losses continue to persist at the current growth rate, the financial services industry is in for torrid times! Ultimately, it is the attitudes around fraud that need to […]
British Airways is not giving away free airline tickets
If you’ve seen a photo of a first class British Airways ticket being posted on friends’ Facebook walls with captions like ‘worth a shot’ or ‘probably fake but giving it a try anyway’, don’t be tempted to join them. This viral post claims to be a competition held by British Airways to give out 100 […]
Irishman accused of organising Olympic ticket fraud
Police in Rio de Janeiro have arrested an Irishman on suspicion of organising a massive Olympics ticket fraud – for a British company accused of the same offence during the 2014 World Cup. Kevin James Mallon, 36, was arrested on Friday night near the Maracana stadium, after being caught selling tickets for the Olympics opening […]
Long-haul specialist blames credit card fraud for collapse
A London-based operator specialising in holidays to the Middle East and Indian Ocean has ceased trading. A message on Elegant Travels’ website blamed credit card fraud for its collapse. The company, based in Barnet, also traded under the names Airchoice, Glen Carriers Travel and Travel Sri Lanka. It owned the websites elegantdubai.co.uk, elegantmaldives.co.uk, eleganttravels.co.uk, glencarrierstravel.co.uk, […]
Airline warns public about online scam
AirAsia has warned the public not to be taken in by an online survey promising free flights. The Malaysia-based airline issued a statement saying the survey, which has been circulating through social media channels, is a hoax. Along with completing the survey, users are asked to share the link on social media to claim a […]
Russian Cybercriminal Gets Prison For StubHub Scam
Law360, New York (July 6, 2016, 9:17 PM ET) — A Russian national accused of masterminding an international cybercrime scheme on Wednesday was sentenced to four to 12 years in prison for ripping off personal data from users of online ticket marketplace StubHub, which was used to resell tickets to sporting events, Broadway shows and […]
Identity fraud up by 57% as thieves ‘hunt’ on social media
The number of victims of identity theft rose by 57% last year, figures from fraud prevention service Cifas suggest. The data, taken from 261 companies in the UK, suggests fraudsters are increasingly getting people’s personal information from social media sites. Cifas said Facebook, Twitter and LinkedIn had become a “hunting ground” for identity thieves. It […]
Fraud victims outside London have ‘little chance’ of police help
Fraud victims outside London whose cases are reported to the police have “little chance of any kind of investigation”, an an authoritative study has found. In a damning assessment the Fraud Advisory Panel said yesterday that Britain’s anti-fraud and cyber-crime measures were “under resourced” and suffered from “widespread ignorance of threats and [an] uncoordinated approach”. […]
How Operators Can Mitigate Digital Payment Risks
In 2015, according to the Kroll Global Fraud report many travel and tourism businesses were victim to fraud. The dangers are real, and their effects are costly (in fact, according to The Nilson Report, global card fraud damages are over $16 billion, annually). The fraudsters are sophisticated, and they change their schemes often. Travel industry […]
Identity fraud up by 57%
The number of victims of identity theft rose by 57% last year, figures from fraud prevention service Cifas suggest. The data, taken from 261 companies in the UK, suggests fraudsters are increasingly getting people’s personal information from social media sites. Cifas said Facebook, Twitter and LinkedIn had become a “hunting ground” for identity thieves. It […]
Global Action Against Airline Fraud Detains 140
An international law enforcement operation targeting airline fraudsters has resulted in the detention and investigation of 140 individuals found in possession of tickets bought using stolen or fake credit card details. The two-day operation conducted June 15-16 was organized globally through coordination centers at Europol in The Hague, INTERPOL Singapore and Ameripol in Bogota, with […]
1 in 10 are victims of online credit card fraud in UAE
Dubai: Around one in 10 residents in the UAE has been a victim of online credit card fraud, with some saying their card details had been stolen and used for wrong purchases, a new survey has found. The Department of Economic Development (DED) in Dubai, in collaboration with global payments technology company Visa, revealed the […]
Buying into fraud
The cost of fraud is far higher than previous estimates, and procurement accounts for most of this. With cuts to internal audit and procurement teams focused on savings, local authorities need all the help they can get. David Cameron’s hosting of the world’s first anti-corruption summit in May certainly sent out a message that fraud […]
£500 device can hack hundreds of contactless cards
A device that allows criminals to clone contactless bank cards in bulk is up for sale on the so-called dark web. The Contactless Infusion X5 can steal information from nearby cards, including the card number and the card holder’s name and address. This information can then be loaded onto blank cards to create clones that […]
Tech support scams target victims via their ISP
A new scam, in which fraudsters pose as legitimate internet service providers to offer bogus tech support, either via the phone or on the net, is on the rise, the BBC has found. It is a twist on an old trick which involved cold-calling a victim – often claiming to represent Microsoft – and charging […]
Spam King sentenced to two years in prison
Sanford Wallace, 47, is nicknamed the “Spam King” and last year pleaded guilty to federal charges including fraud and criminal contempt in connection with using electronic mail. Wallace, who is from Las Vegas, also faces a fine of $310,000 (£218,500). The messages were sent to Facebook users in 2008 and 2009. An FBI investigation resulted […]
£2.75m Boiler Room Scam
The alleged investment fraud tactic known as ‘boiler room’ has continued operating for over a year. The U.K. Financial Conduct Authority has charged a group of five individuals with investment fraud. The allegations against Michael Nascimento, Hugh Edwards, Stuart Rea, Ryan Parker (previously known as Ryan Sell) and Jeannine Lewis come under a thorough investigation […]
Apple iCloud phishing scams
Apple iCloud users have been warned to be on their guard against phishing attacks targeting the UK that seek to gain account information, including credit card data. Security company FireEye uncovered evidence of the attacks after noticing that 86 domains were set up in the first quarter of 2016 to host pages that pose as […]
Contactless cards: twice the level of fraud
Contactless payments tripled last year, and now make up an estimated one in seven of all transactions, so it’s particularly alarming to learn that people with contactless cards may be twice as likely to fall victim to fraud than those without the technology in their cards. Booming The use of contactless technology has taken off: […]
Company director jailed for a year for Hajj fraud
A director of a rogue Hajj travel company was found guilty and sentenced to 12 months in prison at Birmingham Crown Court today. Mohammed Arfan (38) who ran Al-Safah Tours Limited, based at 442 Alum Rock Road, Birmingham, pleaded not guilty to 16 offences under the Consumer Protection from Unfair Trading Regulations (2008) and the […]