Monthly Archives: July 2006

Scam Classic Hits Shetland

Police have warned the Shetland tourism industry to beware of a fraud scheme targeted at hotels and guesthouses, the P&J reports

The police explains this classic scam: “The scam involves the fraudster forwarding a cheque from either a supposed church or charity organisation for around £3,000 from which the room costs are deducted. They then ask that the balance be wired to a foreign travel agent so they can book their flight to the UK. Unfortunately, the cheque never clears and the establishment is left well out of pocket.”

Ransomware getting harder to break

Ransomware getting harder to break, The Register reports

The evolution of an ‘uncrackable’ threat

Hackers may soon be pushing out ransomware packages so complex that they’re beyond the decryption capabilities of the anti-virus industry, according to a study by Russian anti-virus firm Kaspersky Lab.…

15 % of Spam ‘Pump and Dump’

Infosecurity reports
Spam has recently become more important for schemes known as ‘pump-and-dump’. Statistics show that the proportion of pump and dump spam at 15 % in July 2006, up from 0.8% in January 2005.
In a pump and dump scheme, criminals buy shares of a less-known company. Via Spam they then spread false or forged business information to manipulatively increase the share price (pump) and sell the shares at a premium rate (dump). This is the online version of the well-known ‘boiler-rooms’ operations.
Pump and dump networks operate from various locations, notorious addresses being Boca Raton in Florida, Malaga in Spain, and the British Virgin Islands. Stock exchanges maintain extensive blacklists of known pump-and-dump operators. However it is easy for them to abandon one identity and create a new one in very short time.