Today’s Fraud News from around the world:
Greek, Romanian police break up criminal gang in web scam: Greek and Romanian authorities arrested on July 7 eight members of a Romanian criminal network involved in extensive online fraud against users of popular …: “Phishing” – BingNews
Year-long Phishing Campaign Targets Energy Firms: A sophisticated campaign that uses remote access Trojans and malware-as-a-service threats for cyber espionage purposes has been targeting large international energy …: “Phishing” – BingNews
Beware! Fake website for INEC voter registration circulates online: THE Independent National Electoral Commission (INEC) in June commenced Continuous Voter Registration exercise to register those who have attained the legal age and also attend to other related issues …: “Phishing” – BingNews
‘A virus was once a minor disruption. Now no company is safe from cyberattacks’: I have been working with business owners in the SME sector for 20 years, and at that time a virus was just seen as an annoyance or something that might cause a minor disruption to a business,” Kevin O …: “Phishing” – BingNews
Five important tips to protect your social media accounts from cybercrime: As the world continues to become even more digital, social media has become one of the numerous ways people connect with one another. People connect with families, share photos, videos and messages …: “Phishing” – BingNews
New type of phishing scam targets bank customers with spoof SMSes: Police: SINGAPORE: Banking-related phishing scams have re-emerged in the form of spoof SMSes that trick victims into thinking they were sent by their bank. A total of S$ 1.07 million was lost in 374 cases of …: “Phishing” – BingNews
New variant of phishing scams emerges, bank victims lost m from Jan to May: Victims would typically be informed that there were payment attempts from their bank accounts.. Read more at straitstimes.com.: “Phishing” – BingNews
S.07 million lost to scammers who spoofed banks’ SMS accounts from Jan-May 2021: Some of the messages could appear in the same SMS conversation thread as an actual message from the bank. From January 2021 to May 2021, there were 374 cases of banking-related phishing scams, which …: “Phishing” – BingNews
Bank victims lost m from Jan to May after new variant of phishing scams emerges: SINGAPORE – A new variant of phishing scam using spoofed SMS messages to target bank customers has been making its rounds, contributing to 374 reported cases involving losses totalling about $ 1.07 …: “Phishing” – BingNews
SCOA officials tell county they were defrauded, weeks ago: The Shiawassee Council on Aging was the victim of a “spear phishing” incident that apparently misdirected $ 44,813.33 from Valley Area Agency on Aging into a non-SCOA bank account, …: “Phishing” – BingNews
Fraud Prevention Tip: Scrutinise the payment methods – As an online retailer you need to know the types of payment methods and their pros and cons in terms of your business. For example regular credit cards (AMEX) tend to favour the cardholder in disputes (chargebacks sound familiar)? But they are still the most widely used payment method and you do have to look at the convenience of your customer. Paypal on the other hand is a more merchant friendly option and has advanced scam protection features and advanced machine learning capability that actively works to mitigate scam risk. On the other hand Paypal also authorises chargebacks it’s not totally fool proof. Cryptocurrencies are another popular payment method; the blockchain tech makes it nearly impossible for forced refunds and since there are records of all transactions it is undeniable by the customer. On the negative side the value of cryptocurrencies is quite volatile so what’s it worth today it might hold the same value the next day or it could be worth more.