Fraud News, Articles and Updates

Action Fraud launches 24/7 helpline to combat cyber attacks

Action Fraud, the UK's national fraud and cyber-crime reporting centre, has launched a 24/7 live cyber-attack helpline. During its pilot since October 2016, Action Fraud's 24/7 cyber-helpline received 377 reports.

New PCI standard lets card users self-authenticate by web or mobile

Consumers are now able to authenticate themselves with their credit and debit card issuers when buying online by using web browsers or via mobile applications using the new EMV® 3DS standard, designed to cut online card fraud.

Criminals mimic popular cryptocurrency exchange in Google Play

Cyber-criminals took advantage of popular cryptocurrency exchange Poloniex's lack of an official app to dupe unsuspecting users into downloading credential stealing malware.

3.5 million cyber-crimes recorded, true figure could be 20.5 million

Fraud and computer misuse offences accounted for almost half of the 10.8m criminal acts recorded by the Office for National Statistics (ONS) in its Crime Survey for England and Wales (CESW), accounting for some 5m crimes.

Banks lose £30m plus to new hybrid threat hitting former Soviet states

Banks face a new hybrid threat from hackers that has already netted criminals a cool £30 million, according to a new report.

Russian cybercriminals using VOIP services to bypass fraud verifications

Flashpoint researchers spotted Russian speaking cyber-criminals using Voice over Internet Protocol (VOIP) services to bypass phone call transaction verifications.

Ukrainian man helps spread NotPetya to help others avoid paying taxes

Ukrainian police arrested a man earlier this month for helping spread the NotPetya ransomworm through his social media outlets.

Identity of Securitas chief executive stolen, bankruptcy filed

The company rushed to emphasise that he did not fall for a type of crime which it protects against.

Rise in use of biometrics products for cyber-security, report predicts

As fraud rises, a new report has revealed that biometric-based authentication is set to become more prevalent in the UK.

Trustwave: 63 percent of breaches observed targeted payment card data

New report from security company Trustwave illustrates a wave of crime looking to steal payment information from those in the hospitality, retail and food and beverage industries.

Nuance says that biometrics have reached their "coming of age"

The biometrics firm argues that the issues with biometrics often cloud over the benefits gained from using them.

Europol announces takedown ring of card-skimming fraudsters

The European law enforcement organisation says that thanks to the malicious activities carried out by the group, 3,000 victims have lost roughly half a million Euros.

Don't be fooled by tax scams this quarter as hackers ramp up activity

David Emm discusses the various types of tax scams and top tips for staying safe when managing tax affairs this year.

Will Brexit affect online fraud in the UK?

John Cannon evaluates the debate on the impact of Brexit on fraud in the UK, examining the reasons why fraud may not be as catastrophic as businesses think.

Security fears keep UK consumers from adopting new payment methods

A survey conducted by new data global law firm Paul Hastings reveals fears British consumers have when using new payment methods.

Catching the pickpockets in VoIP fraud

Carl Boraman looks at the analytics available from cloud-based services and what customers can do to detect fraud in VoIP services.

FFA UK figures released: financial fraud lost £2m each day in 2016

Financial Fraud Action UK (FFA UK) has released official figures showing that the UK lost £2 million each day during 2016 as a result of financial fraud.

New Cifas data reveals 173,000 cases recorded in 2016, record high

Nine out of 10 fraudulent applications for bank accounts and other financial products made online.

Trend Micro: criminals now moving to attack business processes

According to Rik Ferguson, VP of security research at Trend Micro, businesses should be paying close attention to how their business operates and ensuring they secure the process, and don't allow anyone to hack it.

Cyber-security breaches cost British Businesses almost £30 billion in 2016

New survey indicates 3 million British businesses were compromised by cyber-attacks last year.

53% of retail fraud is now cyber-enabled, amounting to £100m in losses

More than half of retail fraud is now cyber-enabled, amounting to approximately £100 million in losses.

Reported fraud hits five-year high of £2bn

Financial services sector sees a drop in number of fraud cases but fraud in public administration increases 200 percent.

Indian police arrest eight suspects for phone phishing scam

Indian police have arrested eight criminals who were purporting to scam unsuspecting victims out of hundreds of pounds in order to restore working order of their machines.

Infographic: are you losing your identity?

Equifax look at the growth of identity fraud and what can be done about it.

Met Police grab suspect with phone unlocked to get hold of data

London's Metropolitan Police grab a suspect while on the phone, and continuously swipe to keep his phone open, so they can grab data from the phone.

Imperva: beware of automated registration bots, they're great at concealing fraud

One of Imperva's security researchers has warned of automated registration bots, says "they're great at concealing fraud."

Tesco Bank allegedly ignored warnings of hack from Visa

Tesco Bank was allegedly warned of fraudsters using "Glitch 91" to steal money, and failed to protect its customers.

Shop safely online with these 5 tips

Nearly half (48 percent) of consumers who shopped online in the past year have experienced payment fraud.

Opinion: Why wasn't Tesco Bank prepared for the scale of this attack?

With a reported 20,000 customers losing money over the weekend, Tesco Bank appears to be struggling to deal with the volume of customers demanding their money back. Should Tesco have been better prepared?