9 stories this week:
South Australian family ‘devastated’ by terrifying phone hack – 31 December 2021
A South Australian couple has issued a stark warning after nearly losing their entire life savings in a terrifying phone “SIM swap” hack. A scammer had remotely gained control of their SIM cards by applying for an eSIM card and was able to steal their phone numbers. The hacker had impersonated them, accessed identifying documents, started a new bank account and increased the maximum spend on their buy now pay later services.
‘Quite disempowering’: Crypto’s curious case of stolen identity – 31 December 2021
A former JP Morgan executive has fake Twitter, Facebook and Instagram accounts set up in her name. Hackers will contact her staff posing as her in an attempt to authorise the transfer of vast sums of money. Friends and family have been duped into sharing personal information with people that claim to be her.
(Access to digital version of SMH required to read article)
ACT Policing’s new forensic imaging technology prevents hours of traffic disruption after road crashes – 2 January 2022
Using a forensic imaging system, police can create a three-dimensional model of a crash scene in incredible detail. Investigators can then analyse this digital reconstruction – examining factors like speed or road conditions – to work out what caused the crash and prroduce a 30-second video clip of what the collision looked like from any angle.
https://www.abc.net.au/news/2022-01-02/act-forensic-crash-reconstruction-technology/100734460
How to use WHOIS to analyse scams – 3 January 2022
Fake versions of real websites, phishing sites are one of the key tactics scammers use to get you to hand over real details. However a little bit of research and education can save you. Most web domain registration companies offer access to a tool called “WHOIS”, which checks on the registration details of a website name. WHOIS can tell you who has registered the site you’re looking up, and then you can compare it to the actual site.
https://www.pickr.com.au/how-to/2022/how-to-use-whois-to-analyse-scams/
PwC targeted ‘unambitious’ migrant staff for grunt work: whistleblower – 3 January 2022
A whistleblower from global auditing giant PwC has told a Senate inquiry into job security that the firm targeted “unambitious” migrant workers to work 80 to 120 hour weeks from an unbranded Sydney office with lower salaries.
How Theranos founder Elizabeth Holmes went from the cover of Forbes to being found guilty on charges of fraud – 4 January 2022
Elizabeth Holmes apparently invented a way to run 30 lab tests on only one drop of blood using the Theranos Minilab. However it didn’t work. Her company tried to fake it until they made it but then criminal charges were filed say they defrauded investors by making false claims. It is also alleged the company knew about the problems and lied repeatedly to cover them up. The jury found Holmes guilty of four counts of fraud.
https://www.abc.net.au/news/2022-01-04/elizabeth-holmes-theranos-trial-verdict-guilty/100645818
Product fraud could be costing Australia $3bn a year – 4 January 2022
Fibre fraudulence involving the ‘high risk’ commodities of veal, wine, fish and mollusks fell between $700 million to $1.3 billion. According to reports the cost of fraud in the sheep meat, wool, wheat, horticulture and dairy products sectors is believed to cost the industry up to another $700 million annually.
https://www.retailnews.asia/product-fraud-could-be-costing-australia-3bn-a-year/
AUSTRAC battles crypto crime ‘blind spots’ – 4 January 2022
The head of the financial intelligence agency says it is battling regulatory “blind spots” to police the $US2 trillion ($2.7 trillion) crypto asset sector, as criminals anonymously use digital currencies to conduct their affairs on the dark web. Also 400 local digital currency exchanges – registered for anti-money-laundering and counter-terrorism financing obligations – had not been endorsed by AUSTRAC as safe for retail investors.
https://www.afr.com/politics/federal/austrac-battles-crypto-crime-blind-spots-20211209-p59gaq
Family sues CBA over money-laundering scam – 5 January 2022
A makeup artist studying in Australia and her family are suing Commonwealth Bank after losing millions of dollars in an international money-laundering scam and are victims of “cuckoo smurfing”. AUSTRAC had accused CBA of systemic failures to report suspicious deposits, transfers and account transactions, according to The Australian.
https://www.mpamag.com/au/news/general/family-sues-cba-over-money-laundering-scam/320970
