Category Archives: Cyber Crimes

Cyber crime costs the world almost US$600 billion a year: Report

Cyber crime may now cost the world almost US$600 billion a year, up from US $445 billion three years ago.

That estimate comes from the latest Economic Impact of Cybercrime report by the Washington-based Center for Strategic and International Studies and McAfee.

And –despite regular headlines announcing a new data breach — the report says cyber crime isn’t the most lucrative of illegal activity. Beating it are government corruption and narcotics, citing numbers from the International Monetary Fund.

“Where cybercrime is the undisputed leader,” adds the report, “is in its ability to make hundreds of millions of people victims. A good estimate is that two-thirds of the people online— more than two billion individuals—have had their personal information stolen or compromised. One survey found that 64 per cent of Americans had been victims of fraudulent charges or loss of personal information.

Read more at: https://www.itworldcanada.com/article/cyber-crime-costs-the-world-almost-us600-billion-a-year-report/402038

Economic impact of cyber crime is significant and rising

Businesses need to take the economic impact of cyber crime more seriously, say researchers, with the cost of cyber crime now up to 0.8% of global gross domestic product (GDP) or $600bn a year, a study has revealed.

Scots losing £1m a month to cyber-crime scams

Fraudsters claimed that accounts had been compromised and encourage people to move their money to a fake account. Detective Chief Inspector Jim Robertson, from Police Scotland’s Economic Crime and -Financial Investigation Unit, said: “Banks will not contact businesses or individuals asking for personal information or ask you to carry out a transaction. 

“If someone starts asking for these details, end the call and contact your bank.

“If you decide to ring back and verify the call it is advisable to do so on a different phone line, like another landline or your mobile. If you are still unsure, consider visiting your local branch instead of speaking to someone over the phone.”

DCI Robertson said organised criminal gangs operating in the UK, Europe and further afield are behind the scams. 

He added: “People make sure that their house and cars are locked and secure, and the same policy should be adopted online.

“Simple things like

Read more at: https://www.express.co.uk/news/uk/921637/Banking-security-cyber-crime-scams-phishing-vishing-smishing

Banking security warning: Scots losing £1m a month to cyber-crime …

Fraudsters claimed that accounts had been compromised and encourage people to move their money to a fake account. Detective Chief Inspector Jim Robertson, from Police Scotland’s Economic Crime and -Financial Investigation Unit, said: “Banks will not contact businesses or individuals asking for personal information or ask you to carry out a transaction. 

“If someone starts asking for these details, end the call and contact your bank.

“If you decide to ring back and verify the call it is advisable to do so on a different phone line, like another landline or your mobile. If you are still unsure, consider visiting your local branch instead of speaking to someone over the phone.”

DCI Robertson said organised criminal gangs operating in the UK, Europe and further afield are behind the scams. 

He added: “People make sure that their house and cars are locked and secure, and the same policy should be adopted online.

“Simple things like

Read more at: https://www.express.co.uk/news/uk/921637/Banking-security-cyber-crime-scams-phishing-vishing-smishing

I learned cyber crime skills through Google—Suspect

By Esther Onyegbula

A member of a six-man robbery gang that specialised in dispossessing victims of their phones for the purpose of hacking into their bank accounts, has said he acquired the knowledge through Google.

Parading the suspects, Lagos State Commissioner of Police, Imohimi Edgal, said Nwanze Ifeanyi, 27; Martins Uche, 27; and Solomon Dike, 31, rob people of their phones and flee on motorcycles.

Suspects

He stated that a member of the second group, Muritala Mohammed, 28 alias Swallow, using computer apps, retrieve the names and bank details of the original owner of the SIM including BVN, adding that the recovered details are used to determine the account balance.

“Monies in the account are then transferred into different accounts sourced by the third group, made up of Shamson Mustapha, 25, and Ali Hassan,

Read more at: https://www.vanguardngr.com/2018/02/learned-cyber-crime-skills-google-suspect/

I learned cyber crime skills through Google—Suspect – Vanguard …

By Esther Onyegbula

A member of a six-man robbery gang that specialised in dispossessing victims of their phones for the purpose of hacking into their bank accounts, has said he acquired the knowledge through Google.

Parading the suspects, Lagos State Commissioner of Police, Imohimi Edgal, said Nwanze Ifeanyi, 27; Martins Uche, 27; and Solomon Dike, 31, rob people of their phones and flee on motorcycles.

Suspects

He stated that a member of the second group, Muritala Mohammed, 28 alias Swallow, using computer apps, retrieve the names and bank details of the original owner of the SIM including BVN, adding that the recovered details are used to determine the account balance.

“Monies in the account are then transferred into different accounts sourced by the third group, made up of Shamson Mustapha, 25, and Ali Hassan,

Read more at: https://www.vanguardngr.com/2018/02/learned-cyber-crime-skills-google-suspect/

Expert: Cyber Crime An Imminent Threat In Region

 

Small island states like Fiji are more vulnerable to cyber crime due to a lack of investment in security initiatives in the South Pacific, says an expert.

Tunde Fasheun, an expert from Nigeria, said cyber attacks, although not fully devel­oped in the region, are an imminent threat.

Business heads and stakeholders yesterday in Suva engaged in discussions about global risks confronting enterprises and the unfa­miliar threat of cyber crime.

In a conference brokered by international risk management firm MARSH, experts es­timated the costs incurred by businesses in the next five years because of cyber exposure could reach US$8 trillion ($16.13tn).

“It’s no longer a matter of if (cyber crime will affect us), but when,” the senior consult­ant said.

“The economic disparity between the island nations and the developed world where the uptake for technology is quite high and the islands are a bit slow is also a major factor.

“It is going to be a big

Read more at: https://fijisun.com.fj/2018/02/21/expert-cyber-crime-an-imminent-threat-in-region/

Expert: Cyber Crime An Imminent Threat In Region | Fiji Sun

 

Small island states like Fiji are more vulnerable to cyber crime due to a lack of investment in security initiatives in the South Pacific, says an expert.

Tunde Fasheun, an expert from Nigeria, said cyber attacks, although not fully devel­oped in the region, are an imminent threat.

Business heads and stakeholders yesterday in Suva engaged in discussions about global risks confronting enterprises and the unfa­miliar threat of cyber crime.

In a conference brokered by international risk management firm MARSH, experts es­timated the costs incurred by businesses in the next five years because of cyber exposure could reach US$8 trillion ($16.13tn).

“It’s no longer a matter of if (cyber crime will affect us), but when,” the senior consult­ant said.

“The economic disparity between the island nations and the developed world where the uptake for technology is quite high and the islands are a bit slow is also a major factor.

“It is going to be a big

Read more at: https://fijisun.com.fj/2018/02/21/expert-cyber-crime-an-imminent-threat-in-region/

Overnight Cybersecurity: Lawyer charged in Mueller probe pleads guilty to lying | Sessions launches cyber task force …

Welcome to OVERNIGHT CYBERSECURITY, your daily rundown of the biggest news in the world of hacking and data privacy. We’re here to connect the dots as leaders in government, policy and industry try to counter the rise in cyber threats. What lies ahead for Congress, the administration and the latest company under siege? Whether you’re a consumer, a techie or a D.C. lifer, we’re here to give you …

 

THE BIG STORIES:

–MAJOR DEVELOPMENTS IN RUSSIA PROBE: Special counsel Robert MuellerRobert Swan MuellerSasse: US should applaud choice of Mueller to lead Russia probe MORE on Friday unveiled charges against 13 Russian nationals and three Russian groups for interfering with the 2016 U.S. elections. The explosive new charges allege that the Russians created false U.S. personas and stole the identities of real U.S. people in order to interfere with the 2016 presidential

Read more at: http://thehill.com/policy/cybersecurity/overnights/374740-overnight-cybersecurity-bombshell-charges-in-mueller-probe-ag

This Billboard ‘Powered’ by Hackers Highlights the Danger of Cyber Crime

U.K. insurance company Hiscox is highlighting the dangers of cyber crime with an innovative outdoor idea.

Creative agency AMV BBDO worked with digital outdoor specialists Grand Visual on the “Honeypot” poster, which reflects, in real-time, the likelihood of cyber attacks. The campaign works by pulling data from a purpose-built “honeypot” system typical of any standard small business server set-up. The honeypot monitors live hacks and the poster creative responds with a real-time pulsing “Cybercrime” headline and a ticker showing passers-by the cumulative amount of attacks to have hit the honeypot that day.

Based on initial trials, the number of attempted attacks each day is averaging 23,000. As the breaches build, so too does the headline, with each poster evolving and reacting throughout the course of the day. The campaign will run nationwide across urban and roadside locations for all of this week.

Read more at: http://creativity-online.com/work/hiscox-honeypot-poster/53905