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Investment scam targets Instagram users

Victims aged in their 20s have each lost an average of £8,900 after falling for investment scams that appear on image-sharing platform Instagram. Action Fraud, a UK police-led awareness centre, said there had been a surge in activity in recent months by fraudsters posting about get-rich-quick schemes. Victims are promised high returns within 24 hours, […]

Cyber thieves set sights on hijacking payment data

Thousands of websites are being hit by cyber-thieves who implant code to scoop up payment card numbers, research suggests. Security giant Symantec found more than 4,800 websites were being hit by these “form-jacking” attacks every month. High-profile victims of these attacks include airline BA and Ticketmaster. Online crime groups had turned to the attacks as […]

JP Morgan creates first US bank-backed cryptocurrency

US investment bank JP Morgan has created a cryptocurrency to help settle payments between clients in its wholesale payments business. JPM Coin is the first digital currency to be backed by a major US bank. The crypto-currency, which runs on blockchain technology, has been used successfully to move money between the bank and a client […]

Insolvency service and ICO crack the whip on spam marketing menace

The Insolvency Service has imposed a six-year ban on the director of a company that made more than 115,000 automated marketing calls to citizens without obtaining their prior consent. In October, the Information Commissioner’s Office imposed a £70,000 penalty on a company called The Lead Experts for willfully making more than 115,000 automated marketing calls […]

Firms not honouring data access requests could face criminal prosecution says ICO

The Information Commissioner’s Office has warned organisations that failure to honour data access requests made by customers or failing to do so within mandated timelines could expose them to criminal prosecution under GDPR. In January, a report from cloud data integration solutions provider Talend revealed that as many as 74 percent of UK-based organisations were […]

New spear phishing attacks targeting senior execs at multiple times

Security researchers have uncovered a spear-phishing campaign that involves hackers sending malicious emails to CEOs, CFOs, CTOs, and SVPs at a large number of organisations, asking them to participate in a Doodle poll to reschedule an upcoming board meeting, with the emails linking to an Office 365 credential theft site. According to researchers at security […]

Cryptomining infections outnumbered ransomware tenfold in 2018

Cryptomining operations infected IT networks of ten times as many organisations compared to ransomware infections in 2018 but only 16 percent of IT security professionals consider cryptomining as the biggest threat to their organisations, a new study has revealed. In July last year, security firm Check Point revealed that the percentage of organisations impacted by […]

Huawei says tackling security concerns may take five years

It will take three to five years for Huawei to address security issues raised by the UK government, the company has said. The Chinese firm, which has earmarked $2bn (£1.5bn) for the process, outlined the timetable in a letter to MPs. Huawei, the world’s biggest producer of telecoms equipment, faces allegations that its equipment could pose […]