June 25, 2024 at 12:03AM Four Vietnamese nationals linked to the FIN9 cybercrime group have been indicted in the U.S. for orchestrating computer intrusions causing over $71 million in losses to companies. They are accused of conducting phishing campaigns and using stolen information for criminal activities. This comes amid global efforts to combat cybercrime. From … Read more
June 13, 2024 at 02:41PM Conversational AI has been used to engage with scammers, providing insight into cybercriminal operations and extracting information about their fraud methods and infrastructure. Netcraft’s ChatGPT-based chatbot was successful in collecting bank account details from fraudsters, demonstrating the potential of AI in countering cybercrime and creating a more proactive cyber defense. … Read more
June 12, 2024 at 02:05PM Criminals are using phone calls to deceive victims into transferring money by impersonating government employees, including those at the Cybersecurity and Infrastructure Security Agency (CISA). The agency issued a warning and emphasized that its staff would never request money or secrecy. Tips were shared to avoid falling victim, including validating … Read more
June 6, 2024 at 10:39AM The US government filed a civil forfeiture action to recover over $5.3 million lost by a Massachusetts workers union in a business email compromise scam. Cybercriminals tricked the union into transferring the funds using a spoofed email. The fraudsters transferred the money through intermediary bank accounts. Authorities have seized the … Read more
May 30, 2024 at 05:15AM The U.S. Department of Justice dismantled the world’s largest botnet, 911 S5, involving 19 million infected devices in 190 countries, operated by Chinese national YunHe Wang. The botnet facilitated cyber attacks, fraud, identity theft, and child exploitation. Wang faces multiple charges and sanctions alongside the seizure of $30 million in … Read more
May 25, 2024 at 07:33PM Chirag Tomar, an Indian national, pleaded guilty to wire fraud conspiracy for stealing over $37 million through a fake Coinbase website. Using social engineering and a fake website, Tomar and his co-conspirators tricked legitimate Coinbase customers into revealing their login credentials and two-factor authentication codes. Tomar now faces a maximum … Read more
May 17, 2024 at 12:06PM The U.S. Department of Justice charged two suspects for leading a crime ring that laundered over $73 million from cryptocurrency scams known as “pig butchering.” Victims were lured through messaging and social media platforms, with funds drained into accounts under the fraudsters’ control. The defendants face up to 20 years … Read more
May 8, 2024 at 05:33PM Netcraft, the leader in digital risk protection, unveiled its Conversational Scam Intelligence platform to combat escalating financial scams. Leveraging generative AI, the platform disrupts criminal attempts, exposing hidden financial networks and deploying countermeasures. This proactive approach aids in preventing fraudulent schemes and mitigating risk for banking providers globally. For more … Read more
May 2, 2024 at 02:25PM Law enforcement recently conducted raids in several countries, resulting in the shutdown of 12 phone fraud call centers. The operation involved dozens of German officers and counterparts from Albania, Bosnia and Herzegovina, Kosovo, and Lebanon. The authorities arrested 21 individuals, confiscated evidence, and obtained electronic evidence. The joint operation, called … Read more
April 8, 2024 at 01:57AM Google has filed a lawsuit against app developers Yunfeng Sun and Hongnam Cheung for an “international online consumer investment fraud scheme.” The scheme involved uploading about 87 crypto apps to the Play Store, tricking users into downloading them, and stealing their funds. The company accused them of violating multiple policies … Read more