When the Clouds Turn Gray

Cyber criminals build massive banking fraud system in the cloud

PCWorld

Cybercriminals have built a cloud-based fraud system that targeted wealthy people and commercial accounts in bilking primarily European banks of possibly billions of dollars.

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Interpol to Crack Down on Cyber Crime

Interpol said it is making the war against cyber crime a priority as online fraud crosses borders and increases in scope

Seattle Times

Khoo Boon Hui, president of the global police network, told a conference of 49 European member states that cyber crime is becoming more transnational. He pointed to a study published in March by the London Metropolitan University that found 80 percent of online crime is connected to cross-border organized gangs.

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'New Meaning to the Term False Advertising'

Slick click ‘scam’

New York Post

Seven overseas “cyberbandits” hijacked more than 4 million computers around the world -- infecting them with crooked software that secretly rerouted their Web browsers, the feds charged yesterday. The massive scheme allegedly generated at least $14 million in fraudulent advertising revenue by steering Internet traffic away from such popular Web sites as Netflix and iTunes.

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Are You Friends with a Fraudster?

How to beat the online scammers

Wall Street Journal

Your pet's name is a fraudster's best friend. You may think you're giving up precious little when you tell your Facebook friends that you're dressing your pooch, Puddles, in your favorite color, red, for brunch at Grandma's on Sunday. But you've actually just opened a Pandora's box of risks.

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