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Posts Tagged ‘fraud’

Pump-and-dump scamster pleads guilty

Thursday, October 21st, 2010

An Arizona man, James Bragg, recently pleaded guilty of conspriacy to commit securities fraud, and now faces a large fine and possible prison term for the pump-and-dump scams he perpetrated using botnets and spam.

Pump-and-dump scams involve hyping the value of a cheap/worthless stock by advertising it heavily over the internet using spam. Typically, the stock is bought by the attacker who then sends out the mails to hype the stock, which creates buying interest, and then the attacker sells all their stock, cashing in on the falsely inflated value.

In this case, the defendant had allegedly hired people to use botnets to distribute his messages. The botnets were also used to compromise private accounts so that these could be used to buy up large amounts of the stocks in question. He also faces charges from sending spam.

Full story is here http://www.theregister.co.uk/2010/10/21/pump_and_dump_botnet/

Andrew Lee
CTO, K7 Computing

Smartphone users warned to protect data from fraudsters

Wednesday, March 31st, 2010

Smartphone users are being warned to safeguard their data after a UK government survey revealed that 67% were not taking precautions to protect information held on their handset. (more…)

Credit card hacker gets 20 years jail

Friday, March 26th, 2010

A computer hacker has been jailed for 20 years in the United States for his part in hacking credit card systems that allowed him to steal more than 130 million credit and debit card numbers. (more…)

Cost of online scams double in 2009

Monday, March 15th, 2010

The FBI have claimed that the cost of internet fraud and online scams more than doubled in 2009, with the cost to businesses and consumers now put at a staggering $559.7m. (more…)

OFT to invest £4.5bn in fraud protection campaign

Tuesday, February 16th, 2010

The UK Office of Fair Trading (OFT) is to invest £4.5m ($7m) in protecting British citizens from fraudulent activity online, it has been announced. (more…)

Christmas Shopping: Don’t forget the antivirus software

Tuesday, November 10th, 2009

The holiday season is fast approaching and the retailers are already decorating their stores with Christmas decorations and the gifts that they believe are what you want to give to your loved ones this Christmas. (more…)

Europe steps up war on cyber criminals

Tuesday, June 16th, 2009

Europe’s war on online crime is to become even fiercer after the European Commission announced tougher sentences for cyber criminals. (more…)

New credit card could cut online fraud

Wednesday, May 13th, 2009

A new credit card that could make online shopping safer is being trialled by Visa. (more…)

e-Shopping this Christmas? Your guide to safe online shopping

Friday, November 14th, 2008

As the festive season approaches, online retailers are gearing up for another huge surge in sales as more and more of us decide to avoid the annual festive carnage at the local shopping mall and instead, do our Christmas gift buying from the comfort of our own home. (more…)