Articles about crime

AI-powered fraud is evolving faster than most organizations can detect it. That’s the message from Proof, the identity authorization company, in its new report, The Trust Ledger: Transaction & Identity Fraud Bulletin.

The research reveals how synthetic identities, stolen credentials, and generative AI are fueling a surge in digital impersonation and fraud across industries.

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There are always lots of financial scams running online, and pig butchering is currently one of the most commonly used techniques for parting victims from their money.

But INTERPOL doesn’t like the term, saying it is shaming and puts people off reporting crime. The international crime-fighting agency believes that a shift to the rather fluffier sounding “romance baiting” is important.

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As generative AI tools continue to expand, new doors are being opened for fraudsters to exploit weaknesses. Have you experimented with generative AI tools like ChatGPT yet? From beating writer’s block to composing ad copy, creating travel itineraries, and kickstarting code snippets, there’s something for everyone. Unfortunately, "everyone" includes criminals.

Cybercriminals are early adopters. If there’s a shiny new technology to try, you can bet that crooks will explore how to use it to commit crimes. The earlier they can exploit this technology, the better -- this will give them a head start on defenses being put in place to block their nefarious activities. If tech helps boost the scale or sophistication of criminal attacks, it’s extra attractive. It’s no wonder cybercriminals have been loving tools like ChatGPT.

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If you were to draw up a list of places you don’t want to experience a sudden and catastrophic shutdown as the result of a cyberattack, chemical manufacturing plants would be pretty high up there. In addition to halting business operations and production, the nightmare scenario of hazardous materials being released into the human population and the surrounding environment is ever-present. 

But such attacks are becoming increasingly common and sophisticated. A 2021 UK government study, for instance, found that attacks on the chemical industry cost £1.3 billion. Over the years, such attacks have targeted an increasingly varied number of players in the industry too. In 2017, for example, attackers were able to gain control of vital safety systems at a petrochemical plant in Saudi Arabia. Drug manufacturers, chemical distributors, and even hazardous waste sites are among the other players in the sector to have been impacted by attacks. In January, meanwhile, hackers launched multiple attacks on Israeli chemical factories. 

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As news of Silicon Valley Bank’s (SVB) collapse continues to dominate the headlines, cybercriminals are running phishing campaigns impersonating SVB and other financial institutions, including M-F-A and Bloomberg.

Responding quickly to the 24-hour news cycle, cybercriminals aim to leverage their victims’ potential distress over their financial situation to make them more susceptible to this type of attack.

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