Tag: fraud

European police bust major online investment fraud ring

May 14, 2021

The operation was carried out against an organized group that used online trading platforms to swindle victims out of US$36 million. Europol and several national law enforcement agencies have teamed up to take down an investment fraud and money laundering ring that caused losses of approximately €30 million (US$36 million) to hundreds of victims, according … More European police bust major online investment fraud ring

1 million risky apps rejected or removed from Apple’s App Store in 2020

May 13, 2021

Apple also claims to have foiled US$1.5 billion worth of potentially fraudulent transactions. Apple says that it thwarted more than US$1.5 billion in potentially fraudulent transactions and prevented almost a million vulnerable and otherwise risky apps from making their way into the App Store in 2020, according to a new report highlighting the company’s efforts to protect … More 1 million risky apps rejected or removed from Apple’s App Store in 2020

PayPal fraud: What merchants should know

March 16, 2021

From overpayment to shipping scams, what are some of the most common threats that merchants using PayPal should watch out for? With a total payment volume of US$247 billion, PayPal remains one of the more popular online payment providers among major brands and a variety of smaller businesses and vendors. Indeed, the payment giant boasts 28 million … More PayPal fraud: What merchants should know

Romance scams in 2020: Breaking hearts, wallets – and records

February 17, 2021

As dating apps experience a boom amid COVID-19, losses to romance scams soar too. More and more people have been flocking to online dating platforms in search of romance and companionship in the wake of lockdowns and social distancing mandates, but the new reality also contributes to record-high losses from romance scams, according to a report by the United … More Romance scams in 2020: Breaking hearts, wallets – and records

Wormable Android malware spreads via WhatsApp messages

January 27, 2021

“Download This application and Win Mobile Phone”, reads the message attempting to trick users into downloading a fake Huawei app. Android users should watch out for new wormable malware that spreads through WhatsApp and lures the prospective victims into downloading an app from a website masquerading as Google Play. ESET malware researcher Lukas Stefanko looked under the … More Wormable Android malware spreads via WhatsApp messages