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Bank and financial services security - breaking news

For every card fraud that is reported, a further 8 attempted frauds go unreported

The most comprehensive picture of card fraud in the UK has been revealed as experts in the fight against credit card crime reveal the true extent and nature of the problem facing innocent consumers and retailers. New research published by The 3rd Man and 192business.com identifies where the major card fraud hotspots are throughout the UK and reveals exactly how card criminals ply their trade.

Fraudulent credit card activity in the UK is over half a billion pounds. Furthermore, for every fraud that is reported, a further 8 attempted frauds go unreported and ignored by both law enforcement and the banks.

However, with fraudsters finding ever more sophisticated and cunning ways to steal our personal details, this latest research by the 3rd Man and 192business.com show exactly where and how such fraud is perpetrated.

“Investigations like these continue to show that card crime is a major and growing threat to consumers and retailers,” says Andrew Goodwill, fraud expert and Directo... [ more ]

Banking Trojan distributed via fake Formula One star accident

A new banking Trojan is distributed via a fake news story about a car accident involving Formula One star Fernando Alonso. The fabricated news purports to come from a Spanish daily broadsheet El Pais.

According to the bogus press report Alonso, the two time Formula One champion, was seriously injured in a car accident near the Spanish city of Bilbao yesterday. The story is distributed via spam e-mails with a link to an “amateur recording”, which supposedly depicts the moment of the crash and its spectacular blaze.

The link attached to the story delivers a banking Trojan which targets one of the biggest Spanish banks. Ironically, the bank used to be one of Fernando Alonso’s main team sponsors in previous seasons.

Panda Security has identified the Trojan as Banker-LGC, which bears similarities to a different malware attack from a few weeks ago claiming that the Third World War had begun. The major difference was that the latter tried to install a Gaobot worm instead.

“A banki... [ more ]

Phishing rockets as Britain banks online - Guardian Unlimited Email scams in which fraudsters try to trick people into revealing their bank account details have soared by 180% in the past year, figures showed today. Payments body Apacs said ...

More phishing attacks than infected emails - Silicon.com Phishing attacks have outstripped the number of emails infected with viruses and Trojans for the first time, according to security experts. In January 2007, one in 93.3 (1.07 per ...

Email phishing scams soar by 180% - Channel 4 News Email scams in which fraudsters try to trick people into revealing their bank account details have soared by 180% in the past year, figures show. Payments body APACS said there had ...

Obama set for key Berlin speech - BBC Americas White House hopeful Barack Obama is preparing to make a keynote speech in Berlin on how he sees relations between America and Europe developing. His arrival in the German capital ...

Army may go unpaid as sanctions dry up supply of paper for Zimbabwe ... - Guardian Unlimited The Zimbabwean government is struggling to find enough cash to pay its workers, and more importantly the military, after it was forced to cut back on printing money because ...

On the set of new Batman blockbuster - Bedford Today One of the most eagerly-awaited films of the year hits the big screen tonight with the opening of new Batman movie The Dark Knight. The blockbuster, starring Christian Bale ...

Maureen Lipman: Fame and Fortune - Daily Telegraph My Dad was a tailor and he would give my mother housekeeping money each week and call it her 'wages'. Dad was hopeless with money, even though he ran a business. We lived in a ...