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News & Updates

21/01/22
I will be conducting another 2-day Organized Cybercrimes: Detection, Investigation & Prevention course on 7 – 8 March 2022 via Zoom.

I am covering what you need to know about global cyber-crime, case studies, methods, and what actually works when it comes to solutions.

For enquiries, please email eva@weventz.sg with the code “WEventzPTaylor5” and get a 5% discount.

I look forward to seeing my friends and peers in the East for the sessions.

Feel free to also DM me for further details or use our contact facility on the website.

21/01/22
Don't lose your hard earned savings to fraudsters and scammers.

The investment scammers claiming quick returns on Bitcoin, Forex, Binary options etc. are getting bolder and greedier. The sad thing is once your money has gone hardly any of you will get it back.

A couple of years ago the losses were typically around £2-5,000. Now I am seeing losses of life savings, pension funds and even houses being mortgaged around £80,000 to £500,000 with victims lives being ruined.

I thought it might be worthwhile sharing a key few red flags and rationale which indicate it might be a scam.

Are they registered with the FCA in the name they are using? Even FCA registered brokers get it wrong but at least you have redress.

Are they claiming they can provide return over a week or short period, and making it a once in a lifetime offer? That does not happen in real life and the only person making a fast return will be them with your money and a fast exit.

Did they approach you on social media on a friendly basis and quickly turn the conversation to investments?

If they have a recently registered UK Limited company that has never filed accounts, then avoid them.

Also remember a lot of these scams start as romance and friendship scams.

Final word for now. If your bank intervenes and tells you they think it is a fraud, do not ignore them. They are right and you are wrong! I mention this because so many people are telling their banks 'it is my money I will do what I want' which is true. However, the same people then go back to the bank and blame them.

I am not victim blaming I am trying to emphasise that so many frauds slip through the net, so when someone who cares about you expresses concern please listen.

Let's be careful out there ...
30/12/21
I found this interesting. The offender picked the wrong person to malign here. The harm done by bogus reviews and I include false positive reviews too is underestimated. Not just Trip Advisor either I am sure we all spot dubious reviews on other websites.

Anyway have a read and those who like to see justice done will have a wry smile. He challenged the troll online. The troll reacted by putting up more false reviews.

He tracked the troll down, confronted him and took him to court for spreading malicious untruths.

Well done Steve Hoddy!

https://www.bbc.co.uk/news/uk-england-lancashire-59655205
27/11/21
When it is Black Friday to be followed by Cyber Monday then it seems appropriate to share a few snippets about the Computer Misuse Act 1990 and 2018. As well as the Fraud Act 2006 computer crime and fraud in UK can also result in charges under this Act.

A simple summary guide follows:

The Computer Misuse Act applies to any digital operation with a significant link to the United Kingdom. This covers situations where a computer being targeted is in the UK; if the person responsible carried out the operation from the UK; if they used a server located in the UK; or if the resulting cyberattack caused damage within the country.

Section 1 of the Act criminalises ‘unauthorized access to computer material’.

Section 2 then addresses ‘unauthorized access with intent to commit, or facilitate commission of, further offences’. This is when the offender intends to commit more crimes, such as extortion or fraud, using the data they have accessed.

Section 3 of the Act then refers to unauthorized acts with the intent to impair the operation of a computer, either recklessly or intentionally. Again, this section relies on a crime under Section 1 having been established and adds further penalties if the offender/s meant to damage (such as through a virus) or alter the computer or computer system and its contents (such as through modifying, deleting data or introducing malware and spyware), or simply had this effect as a result of the unauthorised access.

A 2006 addition to the original Computer Misuse Act, specifically outlawed the making, supplying or obtaining articles for use in an offences under Section 1,2 and 3. This now addressed the issue of people using malware, viruses and other such tools developed by others, for the purposes of cybercrime.

Where the original 1990 Act had for the first time explicitly criminalised activities which damaged computers, in 2015, a further provision was added in relation to serious damage. This 2015 addition significantly increased the penalties for ‘unauthorised acts causing, or creating risk of, serious damage’.

Under the 2015 change, ‘serious damage’ extended beyond the digital world and referred to damage to people, the environment, and states. The remit of the Act now expanded to cover the possibility of cyber-terrorism and a state backed cyber attack. Crimes which are committed, and which fall within the remit of ‘serious damage’, can now result in a maximum sentence of life imprisonment.

All crimes under the Computer Misuse Act can result in a fine and potential imprisonment.

I've recently been delivering training on this and other legislation which prompted me to share. Feel free to to use our contact page to ask for more information and case summaries from convictions.

Stay safe and secure online. Let's be careful out there...
27/11/21
Refund fraud is easy.

Want to buy expensive Christmas presents but not got the money? How about you getting a quick refund on what you spent and yet also keep the presents?

You get your money back. You keep the presents. No-one comes after you. It is easy. Not talking £4 or £40, talking £2-£3k.

We merely take a commission in the region of 20% from your refund.

No refund then no payment to be made.

Speak to us first to identify the easiest targets and which companies can be exploited.

No this isn't a real advert from me. It is what fraudsters are offering as crime as a service to the public via the dark web and social media.

If you want to speak to us about which retailers are being targeted (most of the big ones) and see some evidence of how this fraud happens including a fraudsters manual for retail fraud then contact us.

Conditions: You must be in the fraud team of an online retailer.

Objective: Speak to us about how you can identify and mitigate this risk.

27/11/21
Do you conduct or need a fraud review?

We have conducted several detailed fraud review projects this year across insurance claims, banking, lending, retail and investigation.

Every client has taken on board our recommendations and improved what they do. Some start from a great place. We acknowledge that and help them to spot the gaps and maybe adjust priorities to particularly fit with the intelligence we gather on the fraudsters and their focus.

Others are working in the same way they did a decade ago. They have success but need to do more or do things differently.
However, we support the whole industry because collaboration, knowledge sharing and becoming the predator rather than the prey is what we need to stop the fraud epidemic we face,

If you want formal help, get in touch but the enemy is not fellow counter fraud providers, internal teams, or peers but the fraudsters themselves.

For that reason, we are happy to share some questions we ask when conducting a fraud review. A few clients have remarked that it was the questions I asked that won the business, rather than a slick pitch:

· Are the processes and procedures in place proportionate?
· Is there an effective balance between the use of technology and trained confident people?
· Are processes for detecting fraud documented and embedded within the wider operational process?
· Are the processes known and understood by the staff that operate them?
· Is the escalation process understood and owned by those using it?
· Are people trained to identify fraud?
· Is the data analysed to improve prevention, detection, and containment of fraud?
· Is the data accurate and inform the organisation of trends, threats and results beyond profit and loss?
· Is the fraud risk reported and accountable at board level?

Ask those questions in your organisation. If the answer is a resounding and confident yes, then well done.

If you cannot then your organisation has urgent work to do.

My fave feedback on a final report. One word ‘awesome’

Let’s be careful out there…Use our contact page to get more information about fraud, financial crime, AML and cyber risk reviews and assistance.