27 Sep 2022

ReasonLabs Unveils Multimillion Dollar Global Credit Card Scam

New information from ReasonLabs indicates that scammers with origins in Russia leveraged Amazon Web Services, GoDaddy, and eNom to conduct a large-scale scam operation that stole millions of dollars from credit cards. The scam began in 2019 and continued into 2020. ReasonLabs states that the victims of the plot were

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31 Aug 2022

ICO Pursues Traffic Accident Data Thieves

The Information Commissioner’s Office (ICO) has announced that it is launching criminal proceedings against eight individuals who are accused of conspiring to steal personal data. The individuals allegedly planned to target vehicle repair garages to steal data related to hundreds of thousands of individuals involved in road traffic accidents. The

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29 Aug 2022

Block Faces Class Action Suit After 2021 Breach

Block, a payment giant, is being sued for negligence by former customers due to a data breach that occurred in 2021. During the breach, Block’s subsidiary Cash App was targeted by a former employee who stole the personal information of roughly eight million customers. The lawyers for two of these

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26 Aug 2022

US Firm Pays $16m to Settle Healthcare Fraud Claims

Optical lens maker Essilor has entered into a five-year Corporate Integrity Agreement (CIA) with the US Department of Health and Human Service Office of Inspector General and has agreed to pay $16.4 million to settle allegations that the firm payed kickbacks to eye care providers. The Department of Justice claimed

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19 Aug 2022

Billionaire Xiao Jianhua jailed for 13 years in China

A court in Shanghai charged a Chinese-Canadian billionaire, Xiao Jianhua, and his company with embezzlement and bribery. His company, Tomorrow Holdings, was fined over $8 billion and Xiao was sentenced to 13 years in prison.  Xiao and Tomorrow Holdings were found guilty of absorbing public deposits, illegal use of funds,

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29 Jul 2022

European Police Arrest 100 Suspects in BEC Crackdown

A recent announcement from the European police revealed that the security force conducted two major operations against business email compromise (BEC) fraudsters, leading to the arrests of almost 100 suspects. Although the campaigns were only recently made public, the crackdowns occurred in November of 2021. The police campaigns have been

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30 Jun 2022

Nevadan Arrested for Alleged $45m Metaverse Investment Fraud

A Los Angeles man was arrested yesterday due to suspicion of his involvement in a multimillion-dollar investment fraud scheme. The scheme reportedly tricked 10,000 victims, resulting in disastrous consequences. The man, Neil Chandran, was arrested and charged with three counts of wire fraud and two counts of engaging in monetary

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22 Jun 2022

Phishing gang that stole millions by luring victims to fake bank websites is broken up by police

Europol has busted a phishing and fraud ring that was reportedly responsible for the theft of several millions of euros being stolen from victims. The perpetrators engaged in illicit activities such as scams, fraud, money laundering, and phishing to achieve their financial goals. Europol has also confirmed that some of

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16 Jun 2022

BNPL Fraud Alert as Account Takeovers Surge

According to Imperva, account takeover attacks targeting the financial services sector have surged by almost 60% from April to May this year. Security researchers believe this may be due in part to buy now, pay later (BNPL) schemes targeting consumers. BNPL has become increasingly popular due to inflation, living crises,

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06 Apr 2022

South African and US Officers Swoop on Fraud Gang

American and South African investigators have teamed up to crack down on fraud that is persistent in the latter country, recently arresting several members linked to a suspected fraud gang. The individuals arrested consisted of three South Africans and four Nigerians, and are believed to be linked to an infamous

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