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Showing posts with label fraud. Show all posts
Showing posts with label fraud. Show all posts

Fraudulent Invoice Scams

A Sydney hedge fund has collapsed after a cyber attack saw its trustee and administrator mistakenly approve $8.7 million in fraudulent invoices.  Scammed by a fake Zoom invite.

The scam, the latest in a series of strikes by offshore criminal gangs against Australian fund managers, has also ensnared ANZ after the bank failed to stop almost $800,000 being withdrawn from an account linked to the cyber criminals.

 

https://www.afr.com/companies/financial-services/fake-zoom-invite-cripples-aussie-hedge-fund-with-8m-hit-20201122-p56f9c

Are Online Reviews Reliable?

A recent newspaper article discusses whether online review websites, such as TripAdvisor, are reliable.

See Bad Reputation.

Publicity Monster

An interesting story about a company that promised to improve your Google rankings.
See Publicity Monster Investigated.

Poker Play

"IN ANOTHER era, Daniel Tzvetkoff would have been whacked - shot or garroted, buried in a shallow grave or sent to sleep with the fishes. The world's two biggest online gambling companies, Full Tilt Poker and PokerStars, which want the $US100 million they believe the former Gold Coast high-flyer took from them, don't work that way.

They send their lawyers. Or they just wait. But Tzvetkoff, incredibly, has used his position from inside a US jail to, first, free himself, and then go on the offensive against the very people who are chasing him.

The Queensland internet entrepreneur, 28, was mysteriously bailed from a US federal prison last August. He has rolled to save his neck.

US federal prosecutors are using Tzvetkoff's unique inside knowledge of how big online gambling companies shift money out of the US in exchange for a sweet deal."

See Courier Mail front page story

"ASSOCIATES of former internet high-flyer Daniel Tzvetkoff have been charged after a flurry of arrests in the US over illegal online gaming following his release last year from a New York prison.

US judges have sealed the files on Mr Tzvetkoff's criminal case, after he was secretly released from prison -- without a bail hearing -- on charges he was involved in a $500 million money-laundering scheme for illegal online poker sites.

Secrecy now surrounds the former Gold Coast-based entrepreneur's movements, with prosecutors refusing to disclose if they are going ahead with the charges that carry a 24-year jail term."

The Australian

The owners of three of the largest Internet poker companies operating in the United States were accused Friday of tricking regulators and banks into processing billions of dollars of illegal Internet gambling proceeds.

Eleven people including the owners of Full Tilt Poker, Absolute Poker and PokerStars were charged with violating anti-Internet gambling laws, according to charges filed by federal prosecutors in Manhattan.

Prosecutors also filed a civil money laundering complaint seeking to recover at least $3 billion from the companies, which are all based overseas, court documents said.

In addition, according to the government statement, restraining orders were issued against more than 75 bank accounts used by the poker companies and their payment processors. And the Internet domain names of the companies were also seized.

NY Times

Net Fraud

Net fraud accused back online

From: The Courier-Mail
February 21, 2010

A TEENAGE Brisbane student accused of using the internet to defraud Queensland's biggest bank of $2 million has today had his ban on using the internet lifted.

Brisbane Magistrate Noel Nunan this morning varied bail conditions for Philip Heggie, 18, so he could use the internet to continue his university studies.

Heggie, a University of Queensland business student, made a brief appearance in the Brisbane Magistrate's Court to answer charges of fraud, attempted fraud and uttering a forged document.

Click here to read the full article on the website

--- A class member asks the following regarding the above story:

Given the level of sophistication required to perpetrate these alleged activities, has the Court (in its most recent decision concerning bail conditions) paid sufficient heed to the possibility of the accused undertaking similar acts? How meaningful are either of the different sets of bail conditions prescribed by the court, given that cyber crimes can be undertaken anonymously?

New Californian Privacy Law: CPRA to effectively replace CCPA

On U.S. Election Day, 3 November 2020, voters in the State of California overwhelmingly voted in favour of Proposition 24—a ballot measure t...