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Cyber-crooks sting South Africa for £13m

A cyber-crime syndicate is believed to have defrauded the South African government of more than £12.8m in a series of spyware frauds.

The fraud went undetected for three years.

The fraudsters appeared to use a sophisticated combination of attacks that consisted of a physical device and a malware component, as witnessed by the fact they have been getting away with their crimes for nigh on three years, according to Tier-3.

Geoff Sweeney, chief technology officer at IT security vendor Tier-3, warned that, in common with more sophisticated IT security attacks, frauds of this nature are very difficult to stop using a traditional single line of defence.

"Companies need to rethink their strategy in the light of the increasing sophistication on the part of the fraudsters," he said.

June 12, 2008 | | Comments (1)

Public wants data breach legislation

Public demand for EU or UK legislation mandating the disclosure of data breaches is growing.

The results of a survey from Symantec and Ipsos Morishowed that 96 per cent of the general public would want to be notified in the event of their personal details being lost or stolen. The loss of bank account details topped the list for notification at 85 per cent, followed by passport number at 52 per cent.

June 8, 2008 | | Comments (0)

Hong Kong becomes most dangerous domain

The Hong Kong .hk domain has jumped 28 places to the most dangerous domain to surf and search on the web according to security experts this week.

Antivirus firm McAfee said Hong Kong takes the mantle from Tokelau, a tiny island of 1,500 inhabitants in the South Pacific.

According to the vendor, 19.2 per cent of all web sites ending in the .hk domain pose a security threat to web users. China (.cn) is second this year with over 11 per cent.

By contrast Finland (.fi) remains the safest online destination for the second year with 0.05 per cent, followed by Japan (.jp).

June 5, 2008 | | Comments (0)

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