Bigger, faster, and
automated. We’ve come a long way since
Mario Puzo…
Organized crime
sophistication we are talking about. “In the latest reincarnation,” Mr.
Pollanen, a well respected international financial anti fraud specialist
asserts, “we find a banking fraud ring attempting a £2billion heist from large
account holdings all over the globe.” These automated attacks move extremely
rapidly and yes, cloud based services are becoming more popular by these
hi-tech fraudsters. They are so sophisticated that they have developed methods
of bypassing chip and pin authentication.
Due to the magnitude
and adeptness of this Olympic-Sized threat with alleged organized crime
signatures, warnings are being issued for the upcoming Olympic games. Wherever
crowds assemble for large scale media and/or sporting events, these modern day
pickpockets will gravitate. We will see new phishing scams mushrooming and all
should take caution in using WiFi spots that possibly could be intercepted.
“It is very important
to be aware of one’s surroundings whether in a business environment, in public,
or at home,” according to Mr. Pollanen.
Crime sophistication is on the rise and as we mentioned in a previous
blog, new methods of strict, punitive law enforcement efforts must be developed
and implemented.
Further reading: http://www.itpro.co.uk/641386/mcafee-uncovers-europe-wide-bank-fraud-scam
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