Displaying items by tag: Fraud

Scammers are now trying to exploit Australians financially impacted by the COVID-19 crisis, according to the Australian Competition and Consumer Commission which says that new superannuation scams have been reported to its Scamwatch service in recent weeks.

eCommerce merchant losses to online payment fraud will exceed US$25 billion in 2024, up from just $17 billion in 2020, despite the ongoing implementation of Secure Customer Authentication (SCA) in Europe.

Telecommunications lobby group Communications Alliance is seeking public comment on a proposed new industry code designed to combat scam calls to consumers at risk of being defrauded.

NBN Co has warned that scammers are increasing their efforts to use the NBN brand to steal people’s personal or financial details, with over 180,000 people contacting the builder of the National Broadband Network to report a scam over the six months to December 2019.

A new standard to mandate stronger identity verification processes before mobile numbers can be ported is being introduced in Australia as the Australian Communications and Media Authority (ACMA) steps up its fight against mobile number fraud.

Global online payment fraud is predicted to cause losses exceeding US$200 billion over the next five years, driven by the increased sophistication of fraud attempts and the rising number of attack vectors.

Australia’s telecommunications regulator ACMA is stepping up its crackdown on scams perpetrated over mobile phone networks with plans to introduce new rules to prevent mobile number porting fraud.

Australia’s online retailers are susceptible to cybercriminals spoofing their brand identity and increasing the risk of email fraud for customers, according to a new report.

Global credit bureau services provider Experian has launched its proprietary internet surveillance technology CyberAgent in Australia and New Zealand.

Australian Internet Service Providers are set to begin blocking illegal offshore gambling websites under tough new powers mandated for the Australian Communications and Media Authority (ACMA) by the Federal Government.

Security firm Proofpoint says that retailer Kmart’s recent warning of a new attack by a sophisticated SMS scam means that it is important for Australians to remain vigilant and aware of these types of attacks.

Four men of Indian origin, three of whom ran two IT staffing companies in the US, have been charged with committing H-1B visa fraud by bringing job-seekers in on false claims that they had secured positions with companies in the country.

Facebook’s announcement of its intention to launch a new virtual currency has prompted a warning from a Charles Sturt University expert that cryptocurrencies have a number of features that make them attractive to criminals.

A survey of domains by email security firm Proofpoint has found that registrations of fraudulent domains increased by 11% in 2018 even as quarterly domain registrations grew by 44% between the first and fourth quarters of the year.

Global analytics firm SAS sees online crime as a big data problem and says more data helps assess threats, while analytics can be applied to solve these concerns.

The average value of a fraud transaction in Australia decreased 31%, from $387 in the fourth quarter of 2018 to $267 in the first quarter this year, according to a newly released global risk intelligence report.

Melbourne firm Genix Ventures is utilising NEC’s NeoFace facial recognition solution to counter what it says is an increasing incidence of examination fraud, or people sitting exams for others.

Healthcare organisations were targeted in 96 email fraud attacks on average in the fourth quarter of 2018 – a 473% jump from the first quarter of 2017, according to a new global cyber security report.

Email fraud attacks continue to grow dramatically, with the number of attacks against targeted companies increasing 226% between Q3 2018 and Q4 2018, and a whopping 476% when comparing Q4 2017 and Q4 2018, according to a new global security threat report.

Australian consumers are reporting having their bank accounts drained by fraudsters and their email inboxes accessed in the latest scam involving theft of mobile numbers, according to the newly published report on fraud from the Telecommunications Industry Ombudsman.