Category: Cyber Crime

How crypto criminals stole $700 million from people – often using age-old tricks

Cyber Crime, Fraud
There’s something uniquely agonising about having your cryptocurrency stolen. All transactions are recorded on a digital ledger, known as a blockchain, so even if someone takes your money and puts it in their own crypto wallet, it is still visible online. “You can see your money there on the public blockchain, but there’s nothing you can do to get it back,” says Helen, who lost around $315,000 (£250,000) to thieves. She likens it to watching a burglar pile up your prized possessions on the other side of an impassable chasm. For seven years Helen and her husband Richard (not his…

How Criminal Groups Have Adapted to the Digital Age

Cyber Crime
The cyber world is constantly evolving, and criminal groups in Latin America are adapting their modus operandi to make the most of it. Technological innovations brought about by the Internet era have influenced various criminal economies, from drug trafficking to money laundering. In Mexico, producers of synthetic drugs, such as fentanyl and methamphetamine, use the open and dark web to acquire precursors and highly regulated chemicals through sellers who can ensure successful shipments to almost anywhere. Latin American criminal groups, such as the Sinaloa Cartel and the Jalisco Cartel New Generation (Cartel de Jalisco Nueva Generación – CJNG), frequently use…

Justice Department Unveils Comprehensive Strategy to Combat AI-Enabled Cybercrime, Emphasizes International Cooperation

Cyber Crime
The Department of Justice’s Criminal Division unveiled today a sweeping new framework for addressing cybercrime and artificial intelligence-enabled criminal activities, signaling a major evolution in the federal government’s approach to technology-enabled threats. Principal Deputy Assistant Attorney General Nicole M. Argentieri, speaking at the Computer Crime and Intellectual Property Section’s Symposium hosted by the Center for Strategic and International Studies in Washington, DC, detailed the division’s ambitious strategy to combat increasingly sophisticated digital threats while safeguarding civil liberties and promoting responsible innovation. The newly released Strategic Approach to Countering Cybercrime marks the Justice Department’s most comprehensive response yet to the challenges…

Ransomware Attacks Remain Biggest Cyber Menace

Cyber Crime, Fraud
RANSOMWARE attacks remain the most prominent cyber attack menace, European police forces said in a report today. It comes in a comprehensive analysis from Europol, titled “Cyber-attacks: the apex of crime-as-a-service.” The report, a part of the so-called IOCTA 2023 series, examines cyber-attacks, offering insights into emerging threats and evolving methodologies as observed by Europol’s operational analysts. Evolving cybersecurity and online fraud issues will be discussed at the forthcoming ‘Cybersecurity & Online Fraud Summit 2023‘ taking place in Dublin on November 29 next. The key findings of the Europol report include: Malware-based cyber-attacks, primarily ransomware, remain the “most prominent threat”…