The fraudsters behind the often laughable Nigerian prince email scams have long since branched out into far more serious and lucrative forms of fraud, including account takeovers, phishing, dating scams, and malware deployment. Combating such a multifarious menace can seem daunting, but in truth it calls for concerted efforts to tackle the problem from many different angles. This post examines the work of a large, private group of volunteers dedicated to doing just that.
The same miscreants responsible for breaking into the networks of America’s top consumer and business data brokers appear to have also infiltrated and stolen huge amounts of data from the National White Collar Crime Center (NW3C), a congressionally-funded non-profit organization that provides training, investigative support and research to agencies and entities involved in the prevention, investigation and prosecution of cybercrime.
New fees levied by financial institutions are likely to push thousands of small businesses into banking online, whether or not they are aware of and prepared for the types of sophisticated cyber attacks that have cost organizations tens of millions of dollars in recent months.
Reported losses from online fraud more than doubled last year, from $265 million in 2008 to nearly $560 million in 2009, according to figures released Friday by the FBI. The figures come from complaints referred to the Internet Crime Complaint… Read More »