losses
Net downloads cause ‘millions of lost jobs’
I remember when it was all Aeron chairs around here… A study for the international chamber of commerce reckons 2.7 million jobs have been lost since 2004 in Europe because of unlicensed internet downloads, and warns economic losses could treble to €32bn by 2015. The report is backed by trade unions, including the TUC.…
Continue reading »Lifelock Dinged $12 Million for Deceptive Business Practices
The CEO of Lifelock, Todd Davis, became famous for advertising his Social Security number on television ads and billboards promising his $10 monthly service would protect consumers from identity theft. The company also offered a $1 million guarantee to compensate customers for losses incurred if they became a victim of identity theft after signing up for the service. But the Federal Trade Commission said Tuesday that the claims were bogus (.pdf) and accused Lifelock, based in Arizona, of operating a scam and con operation.
Continue reading »FBI Says ‘Money Mule’ Scams Now Top $100 Million
The hackers looting bank accounts of small and mid-sized businesses around the county are hitting new victims every week, and have now racked up approximately $100 million in attempted losses, the FBI said Tuesday. “The infection vector has not been determined in every case,” the bureau’s Internet Crime Complaint Center wrote in an intelligence note on the growing scam. “However, FBI analysis has identified more than two dozen different pieces of malware on the compromised account holders’ computers all containing key loggers.” Using these Trojan horses, cybercrooks have been intercepting victims’ web-banking credentials and then initiating money transfers to mules around the country.
Continue reading »Court Rules Breach Victims Not Entitled to Restitution
A federal judge has ruled that victims whose bank card numbers were stolen in a data breach are not entitled to sue if their losses were already reimbursed. Only customers who weren’t reimbursed for fraudulent charges may sue. The case involves the 2007-2008 breach of the Hannaford Bros.
Continue reading »Lawyers to Judge: Don’t Make an Example of Lori Drew
After the prosecution turned Lori Drew into a national symbol of cyberbullying, it’s “outrageous” to demand a harsh three-year prison term because she’s become that symbol, Drew’s defense attorneys told a federal judge Wednesday. Prosecutors last week urged the court to sentence Drew to the maximum three years in prison for three misdemeanor convictions, instead of the one-year probation term recommended in an independent, court-ordered pre-sentence report. “A probationary sentence might embolden others to use the Internet to torment and exploit children,” the government argued.
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