[text size="1.2em"] As applications move into the cloud and the web becomes more social, there are more opportunities for ‘bad actors’ to try to defraud your company or customers. [/text] [text size="1.1em"] There are infinite categories of fraud but, largely, they can be put into three categories: For Direct Monetary Gain Online Marketing, SEO or trashing the brand-attacks. Hacktivism [/text] [text size="1.1em"] 1. For Monetary Gain Often a mix of online fraud and theft, this is commonly the act of
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Sometimes known as: Automated Account Creation, Account Creation Fraud Applying for new online accounts and memberships using fictional user information. The end goal of the fraudster may not be strictly financial. It can be used to “test” stolen credit card details, flood a review site with positive reviews, falsely fully book a restaurant, download software or apps many times in order to get it noticed on a ‘most downloaded’ list or ‘top rated’. Similar to Application Fraud - fraudsters will …
On Thursday 25 July, US Attourney Paul Fishman announced the indictment of four Russian nationals and one Ukrainian national in “the largest hacking and data breach scheme ever prosecuted in the United States.” The 5 hackers used anonymous web hosting and a hacking method known as SQL injection to gain access to the databases of some of the largest retailers and credit card processing firms in the USA. It is expected that around 160 million credit card details were stolen, the 
On July 23, Lakeland, a UK based kitchenware firm announced by email to it’s users that two of it’s encrypted customer database had been hit by a “Sophisticated and Sustained Attack”, possibly resulting in a data leak. Misconceptions One of the largest misconceptions is that Advanced Persistent Threats (APT) threats are that they are solely concerned with distributed denial of service attacks. DDOS are the most famous method of cyber crime but more concerned with Hacktivism than fraud. Hacktivists would 
Forbes reported earlier in the week that Karsten Nohl’s a German researcher has managed to hack the encryption found on about a quarter of all SIM cards. Breaking the encryption allows Nohl to install custom software onto a breached SIM which could potentially send stealth text messages, direct calls that the user is making to a different phone number or authorize pre-installed apps such as Visa to the phone number. This is a highly advanced form of phone number spoofing