Web Fraud 2.0

The U.S. Labor Department’s inspector general said this week that roughly $100 million in fraudulent unemployment insurance claims were paid in 2020 to criminals who are already in jail. That’s a tiny share of the estimated tens of billions of dollars in jobless benefits states have given to identity thieves in the past year. To help reverse that trend, many states are now turning to a little-known private company called ID.me. This post examines some of what that company is seeing in its efforts to stymie unemployment fraud.

Read More How $100M in Jobless Claims Went to Inmates

Cyber cops in Ukraine carried out an arrest and several raids last week in connection with the author of a U-Admin, a software package used to administer what’s being called “one of the world’s largest phishing services.” The operation was carried out in coordination with the FBI and authorities in Australia, which was particularly hard hit by phishing scams perpetrated by U-Admin customers.

Read More Arrest, Raids Tied to ‘U-Admin’ Phishing Kit

Facebook, Instagram, TikTok, and Twitter this week all took steps to crack down on users involved in trafficking hijacked user accounts across their platforms. The coordinated action seized hundreds of accounts the companies say have played a major role in facilitating the trade and often lucrative resale of compromised, highly sought-after usernames.

Read More Facebook, Instagram, TikTok and Twitter Target Resellers of Hacked Accounts

ValidCC, a dark web bazaar run by a cybercrime group that for more than six years hacked online merchants and sold stolen payment card data, abruptly closed up shop last week. The proprietors of the popular store said their servers were seized as part of a coordinated law enforcement operation designed to disconnect and confiscate its infrastructure.

Read More ‘ValidCC,’ a Major Payment Card Bazaar and Looter of E-Commerce Sites, Shuttered