Financial Crime Online

Hacking and banking; 2009 was full of it. Law enforcement was able to capture a ring of hackers responsible for some major 2008 bank data thefts and subsequent fraudulent transactions. ‘Hacking and fraudulent banking’ is likely attractive enough from a risk/reward point of view to see whole floods of hackers trying their luck (or testing [...]

Two alleged hackers in their twenties and an unknown “Hacker 3″ have been indicted on charges of hacking into a computer network operated by the Atlanta-based credit card processing company RBS WorldPay.
The indictment alleges that the group used sophisticated hacking techniques to compromise the data encryption that was used by RBS WorldPay to protect customer [...]

The Nigerian/419/advance fee fraud is not our favorite topic. Why not?  Because it is still there, after decades, virtually unchanged. Boring. But still a multi million dollar fraud and money laundering business. Although a lot of people blame law enforcement for not getting the problem under control, it will take public private partnerships to tackle [...]

This can not be right?  But it is. Perhaps a little bit off topic but for sure very interesting. In Finland fines are issued according to your salary. The more you make, the more you pay. Fair? Exceeding the speedlimit by 22 km/h will cost you 6 days of income. If you are a high rolling [...]

To a total loss of $265 million in 2008.  Americans filed 275,284 reports claiming to be ripped off on the Internet, the highest number reported since the National Internet Crime Center (www.nw3c.org) began keeping statistics in 2000. The top three most frequent complaints were about merchandise that wasn’t delivered or payment that wasn’t received, Internet [...]