When a customer gets defrauded, should the enterprise reimburse?

Credit to Author: eschuman@thecontentfirm.com| Date: Tue, 06 Feb 2024 03:00:00 -0800

The New York Attorney General’s decision to sue Citibank last week for failing to reimburse customers who’d been victimized by fraud raised some interesting issues for business that go beyond just Citibank. Specificially, when should a customer be reimbursed for fraud and at what point do the customer’s own actions come into play?

To be clear, financial institutions have been routinely refusing to reimburse customers who have done nothing wrong. The far trickier issue is when the customer does indeed do something wrong.

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Arrests in $400M SIM-Swap Tied to Heist at FTX?

Credit to Author: BrianKrebs| Date: Thu, 01 Feb 2024 18:41:37 +0000

Three Americans were charged this week with stealing more than $400 million in a November 2022 SIM-swapping attack. The U.S. government did not name the victim organization, but there is every indication that the money was stolen from the now-defunct cryptocurrency exchange FTX, which had just filed for bankruptcy on that same day.

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Fla. Man Charged in SIM-Swapping Spree is Key Suspect in Hacker Groups Oktapus, Scattered Spider

Credit to Author: BrianKrebs| Date: Tue, 30 Jan 2024 19:07:18 +0000

On Jan. 9, 2024, U.S. authorities arrested a 19-year-old Florida man charged with wire fraud, aggravated identity theft, and conspiring with others to use SIM-swapping to steal cryptocurrency. Sources close to the investigation tell KrebsOnSecurity the accused was a key member of a criminal hacking group blamed for a string of cyber intrusions at major U.S. technology companies during the summer of 2022.

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Apple accuses UK gov't of ‘unprecedented overreach’ on privacy

In the name of security, the UK government may well have put a cybersecurity target on the nation’s back, with Apple once again warning that proposed changes to the Investigatory Powers Act 2016 are a “serious and direct threat to data security and information privacy.

“We are deeply concerned about the amendments to the Investigatory Powers Bill currently before Parliament, which will put the privacy and security of users at risk,” Apple said in a statement. “This is an unprecedented overreach by the government and, if implemented, the UK new user protections could be secretly vetoed globally, preventing us from ever delivering them to customers.”

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Russia hacks Microsoft: It’s worse than you think

Another day, another hack of Microsoft technology. Ho-hum, you might think, this has happened before and will happen again — as surely as the sun rises in the morning and sets at night.

This time is different. Because this time the targets weren’t Microsoft customers, but rather the top echelons of Microsoft itself. And the hacker group, called Midnight Blizzard, or sometimes Cozy Bear, the Dukes, or A.P.T. 29, is sponsored by Russia’s Foreign Intelligence Service (and has been since at least 2008).

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Who is Alleged Medibank Hacker Aleksandr Ermakov?

Credit to Author: BrianKrebs| Date: Fri, 26 Jan 2024 18:12:09 +0000

Authorities in Australia, the United Kingdom and the United States this week levied financial sanctions against a Russian man accused of stealing data on nearly 10 million customers of the Australian health insurance giant Medibank. 33-year-old Aleksandr Ermakov allegedly stole and leaked the Medibank data while working with one of Russia’s most destructive ransomware groups, but little more is shared about the accused. Here’s a closer look at the activities of Mr. Ermakov’s alleged hacker handles.

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Using Google Search to Find Software Can Be Risky

Credit to Author: BrianKrebs| Date: Thu, 25 Jan 2024 18:38:43 +0000

Google continues to struggle with cybercriminals running malicious ads on its search platform to trick people into downloading booby-trapped copies of popular free software applications. The malicious ads, which appear above organic search results and often precede links to legitimate sources of the same software, can make searching for software on Google a dicey affair.

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Canadian Man Stuck in Triangle of E-Commerce Fraud

Credit to Author: BrianKrebs| Date: Fri, 19 Jan 2024 15:34:53 +0000

A Canadian man who says he’s been falsely charged with orchestrating a complex e-commerce scam is seeking to clear his name. His case appears to involve “triangulation fraud,” which occurs when a consumer purchases something online — from a seller on Amazon or eBay, for example — but the seller doesn’t actually own the item for sale. Instead, the seller purchases the item from an online retailer using stolen payment card data. In this scam, the unwitting buyer pays the scammer and receives what they ordered, and very often the only party left to dispute the transaction is the owner of the stolen payment card.

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