Cybercrime

The U.S. Securities and Exchange Commission (SEC) announced Monday that it has filed suit against a Florida Internet company, Families On Line (FOL) and two executives for allegedly bilking Christian investors out of almost US$4 million. The suit, which was filed in a Miami federal court Friday...

The U.S. Federal Bureau of Investigation (FBI) issued an advisory Thursday warning that several organized hacker groups, operating out of Eastern European hubs, have stolen proprietary information from hundreds of e-commerce and online banking sites, including customer databases and more than one...

Despite widespread consumer fears about online credit card fraud, the No. 1 scam on the Internet is Web auction fraud, according to a report released Tuesday by the U.S. Federal Bureau of Investigation (FBI) and the National White Collar Crime Center. Internet auction fraud was the problem in ...

Online scam artists contributed to a 50 percent increase in credit card fraud in the European Union (EU) last year, ringing up US$553 million in illegal transactions, according to numbers released by the European Commission (EC) on Monday. To stem the tide, the EC has launched an ambitious thre...

The white knight who pulled European e-tailer from the brink of bankruptcy at the last minute this week is a convicted hacker turned venture capitalist, a UK newspaper reported Thursday. The Manchester Guardian reported that a German venture fund that supplied US$2.3 million to Letsbuyit this week ...

The Worldwide E-Commerce Fraud Prevention Network, whose members include Amazon.com, American Express, Buy.com and Expedia.com, has announced the launch of MerchantFraudSquad.com, a new site dedicated to combating online fraud. MerchantFraudSquad is the first initiative of the Network, a non-pr...

Internet auction fraud accounts for 87 percent of all incidents of online crime, according to a new study released Tuesday by eMarketer. As part of its "ePrivacy & Security Report," eMarketer also found that more than 34 percent of Internet users have been targeted by a Web-based privacy or ...

Computer products e-tailer Egghead.com said Monday that no credit card data was breached when its systems were broken into in an alleged hacking last month. Egghead did concede that some credit card accounts that appear in its system had shown questionable activity, but that it was unrelated to the...