Malaysia cracks down on Internet scam
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Malaysia's securities watchdog said Monday it has frozen two local bank accounts, shut down two Web sites and questioned several people suspected to be involved in a global Internet investment scam.
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Government's exams watchdog tries to clamp down on internet plagiarism and help from parents.
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Hong Kong police said they were investigating an Internet service that posts bogus e-mails to unwitting recipients claiming to be from the police and other official organisations.
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Â· Internet industry asked to help curb illegal materialÂ· Terror bill proposes new powers against suspects
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German banks Postbank and Deutsche Bank said that their customers had been recent victims of Internet fraud via copycat web sites.
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Secure shopping websites have made it much more attractive for consumers to spend billions of pounds on the web.   But many shoppers are ignoring basic internet security procedures, opening themselves up to online fraud.
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For some, replying to Internet scams is a rewarding hobby. They call themselves scam-baiters, and they have started taking justice into their own hands.
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Second Life on Tuesday began cracking down on banking in the popular online virtual world to protect residents from unstable financial institutions and outright scams.
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More than 150 individuals have been arrested or convicted in a US-wide crackdown on internet fraud and abuse, according to an announcement from Attorney General John Ashcroft on Thursday.
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The government announced it is cracking down on South Koreans who have set up Internet gambling websites overseas to escape a domestic drive against betting.
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By Shyla Sangaran  THE rising use of networks of compromised machines, or botnets, to send out spam is becoming a major security headache for enterprises across the globe, including Malaysia.
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Organisers of a sell-out tsunami aid show try to stop people reselling tickets on the web.
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Apparently it&#39;s not just unwary individuals that fall victim to online scammers. Even large corporations, it seems, can get suckered into parting with their money by devious&#160;phishers.Case in point: Eden Prairie, MN.-based grocery chain Supervalu, which earlier this year got conned into depositing more than $10 million into two fraudulent bank accounts before recognizing the ruse. Details of the case are contained in court documents filed in connection with two forfeiture cases stemming from the incident.According to federal court filings in the U.S. District Court for the District of Idaho, the fraudulent activity took place in late February and early March this year. In the court filings, Stephen Kilgroff, Supervalu&#39;s vice president of legal affairs, said that on February 26 and 28 the company received two separate e-mails, one purporting to be from an employee at American Greetings Corp. and the second from an employee at Frito-Lay, both company-approved vendors.Both e-mails told Supervalu to send future payments for each vendor to new bank account numbers. In the case of the e-mail that purported to be from American Greetings Corp., Supervalu was advised to send payments to an HSBC account in Miami. The other e-mail advised Supervalu to send Frito-Lay payments to an account at First Security Bank in Rogers, Arkansas.Between Feb 28 and March 3, Supervalu deposited just over $6.5 million via multiple wire-transfers to the HSBC account, thinking that it was sending the money to American Greetings Corp. Similarly, on March 2 it made eight separate wire-transfers to the bank in Arkansas, depositing a total of $3.6 million to an account it thought belonged to Frito-Lay.In addition to the $6.5 million deposited by Supervalu into the HSBC account, an additional amount of $500,000 had been deposited into the same account by a second company, identified as &quot;ROHM&quot; on court documents. No information has been available concerning the second company, and it is not a party to subsequent litigation.Around March 6, according to the filings made by Kilgroff, Supervalu discovered that it had been &quot;induced&quot; into making the transfers to the bogus accounts. Following the discovery of the fraud, Supervalu quickly notified the appropriate law enforcement authorities, who managed to recover nearly all of the money before it could be withdrawn from the accounts.The recovered money is now being claimed by Frito-Lay, American Greetings and Supervalu. In making the claim to the recovered money, Frito-Lay said that it believes the money belongs to Supervalu and said supported that company&#39;s claim to ownership of the misdirected funds.&quot;However to the extent there is any determination that the ownership of these funds changed from Albertsons/Supervalu [the Albertsons grocery chain was recently acquired by Supervalu] to Frito-Lay (as a result of the attempted transfer, the misdirection, or any other development) Frito-Lay makes this claim to these funds in the alternative and subject to any claim of ownership by Albertsons/Supervalu&quot; the company said in an affidavit.A federal judge is expected to rule sometime in November on which firm should receive the recovered funds.A spokeswoman from Supervalu responded via e-mail to a request for comment. &quot;As indicated by the forfeiture complaint filed by the U.S. Attorney&#39;s Office in Boise, Supervalu was the target of attempted financial fraud,&quot; spokeswoman Haley Meyer said. &quot;Due to our internal controls and processes, we were able to quickly discover and report this to the FBI. As a result of the quick work of the Boise FBI Office and the U.S. Attorney, any funds lost are minimal.&quot;Computerworld is an InfoWorld affiliate.&#160;
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Eleven firms are barred as part of action against scams which left dial-up net users with big bills.
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More than 100 people have been arrested in the largest global crackdown to date on identity theft, hacking and other Internet-based crimes, Attorney General John Ashcroft said on Thursday.
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An Australian man whose international email scam stripped A$5 million ($5.48 million) from his victims has been jailed in a continuing global war against Nigerian internet frauds.
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Online job service is taking steps to prevent further attacks on its databases.