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$200 Million Cybercrime Forum Disabled; 11 People Arrested

Vietnamese and UK police arrested 11 people and disabled a cybercrime forum that facilitated more than $200 million worth of credit card fraud, according to a press release by the Serious Organized Crime Agency. The forum Mattfeuter.ru had about 16,000 members and sold more than a million credit card numbers that were leaked after hacking and fraud. Three of the people arrested in the UK were “significant” ...

South Korea Trains Hackers to Fight Cyber Crime

South Korea has launched a program that aims to find the best hackers and turn them into national defenders against internal and external cyber-attacks, according to CNN Seoul. The South Korean government, in collaboration with the Korea Information Technology Research Institute (KITRI), has set up a six-month training program called “Best of the Best” to transform the country’s smartest hackers into nation...

FBI Software Pinpoints Top Phrases Used by Corporate Fraudsters

FBI software developed with advisory firm Ernst & Young unraveled the top phrases used in email conversations among employees engaged in corporate fraud, according to a press release. The technology can also pinpoint unusual changes in tone that can reveal fraud targeting specific sectors. Some of the most common expressions used by corporate fraudsters include “cover up”, “write off”, “grey area” and “...

Philippines Pass Online Libel Law; If You (DO NOT) Like it, Don’t Show It

The Philippines recently passed a cybercrime law that sparked controversy among freedom of speech promoters due to its broad approach to what might constitute online libel, according to Yahoo! News. The Cybercrime Prevention Act of 2012 adopted by the Congress of Philippines aims to “define cybercrime, provide for the prevention, investigation, suppression and the imposition of penalties therefore and for o...

Google Talk and NASA Subdomain Hacked, Fox News Mobile Page Still Defaced

As many as 1,000 usernames and passwords were leaked on the Internet after Google Talk was allegedly hacked by a Team Alad33n member nicknamed Galad33n, according to a Pastebin dump. Several other attackers defaced a couple of Fox News websites and a NASA subdomain in what appear to be separate security breaches. “Google has left it's [SIC] data unsecured, some passwords are not encrypted, some are, scroll ...

Fighting Cybercrime with $2.3 Million Cyber Security Scholarship

Kansas State University has launched a cyber security program in an effort to prevent future cybercrime attacks against the United States.  The National Science Foundation awarded $2.3 million to the university, so students interested in cyber security can go pro. With critical infrastructure systems enabling remote access, millions of hacking attempts are made each day to gain control of those systems. Tra...

Online Fraud Earns Jail Time for German Felons

German authorities arrested a 23-year-old man who used a network of 187 fake online stores to make $1.36 million selling fictitious electric equipment and home appliances between November 2008 and August 2011. The cybercrime gang also launched a phishing campaign which asked users to verify their bank credentials because a possible virus attack might have left them vulnerable. More than 117 illegal transact...

One in Two US Execs Worried about Data Security and Cybercrime, Study Shows

Some 42 percent of 11,340 surveyed US board members have a concrete response and crisis management plan in the event of a cyber-attack against their corporations. With more and more US-based companies adopting the Internet as the favorite channel of communication, sales and delivery in the past decade, online safety has become a key concern in 2012.  The 2012 Law and the Boardroom Study commissioned by The ...

Nvidia Forum Suspended After 400,000 Passwords Were Hacked

Nvidia suspended its Developer Zone forum and started an investigation after 400,000 hacked credentials were posted online. Though it described the attack as targeting only “a small proportion of users,” the company warned members should change identical passwords they use elsewhere. “Nvidia suspended operations today of the Nvidia Developer Zone,” the firm’s representatives said after the password breach. ...

Cybercrime “Missile” Claims Largest Financial Losses in History

The billions of dollars spent annually on dealing with damage caused by cybercrime constitutes “the greatest transfer of wealth in history," according to the director of the National Security Agency (NSA), U.S. Army Gen. Keith B. Alexander. He made the comment on Monday at the "Cybersecurity and American Power" event organized by the American Enterprise Institute this Monday. Alexander’s speech called for g...

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