September 30, 2024 at 01:47PM Benjamin Paley, co-owner of Minnesota’s GEN8 Services, is indicted in the U.S. for participating in an international conspiracy to traffic counterfeit networking devices. Alongside co-conspirators, Paley allegedly sold at least 3,637 forged Brocade switch licenses, causing Brocade significant financial losses. He may face a maximum of 20 years in prison … Read more
August 1, 2024 at 01:58PM The UK’s NCA shut down Russian Coms, a caller ID spoofing platform used by criminals to make over 1.8 million scam calls. The platform operated globally, affecting victims across 107 countries, resulting in tens of millions in financial losses. Three suspects have been arrested and law enforcement agencies worldwide are … Read more
March 7, 2024 at 07:56AM The FBI’s 2023 Internet Crime Report reveals a 22% increase in reported losses, totaling $12.5 billion, with 880,000 complaints submitted. People over 60 were the most vulnerable, and trends since 2019 show rising complaints and losses. Notably, BEC, investment fraud, and ransomware caused significant financial losses, totaling billions. IC3’s Recovery … Read more
March 5, 2024 at 05:37PM Generative AI technology is expected to boost cybercriminals’ synthetic identity fraud capabilities, with current fraud detection tools likely insufficient to counter this emerging threat. Cybercriminals leverage generative AI for creating fake documents, exploiting its widespread availability and affordability. Fighting synthetic identity fraud requires a multilayered approach, including AI and behavioral … Read more
November 16, 2023 at 09:51AM Thomas Kennedy McCormick, aka ‘Fubar’, has been sentenced to 18 years in prison for his involvement in running the cybercrime forum Darkode. He was one of the last administrators before the forum was shut down in 2015, resulting in 70 arrests. McCormick was involved in malware distribution, website hacking, and … Read more