The U.S. Securities and Exchange Commission filed an emergency action against BroCo Investments, Inc. and its president Valery Maltsev alleging an ongoing fraud. The complaint alleges that from August 2009 to present, the defendants hijacked online brokerage accounts, placed unauthorized trades in the same securities they had acquired in their own account minutes prior to artificially affect prices, and realized over $255,000 in profits. The unauthorized trades also resulted in at least $603,000 in losses to other online brokerages and harmed unknowing market participants. The SEC seeks to freeze the defendants' assets and impose penalties, restitution, and permanent injunctions against future violations.
This document discusses credit card hacking and hacker culture. It notes that credit card fraud rates are much higher for online transactions than in-person transactions. It then describes common methods that hackers use to steal credit card information, such as phishing scams, hacking retailer databases, and keylogging malware. It defines a "carder" as a criminal who specializes in stealing credit card data. The document also provides an overview of hacker culture and the different types of hackers, including black hat, white hat, and grey hat hackers.
This document discusses ATM card skimming and provides information on how it works, trends in the Caribbean region, recommendations to address the issue, and tips to reduce risk. It notes that skimming devices illegally record card data and PIN numbers are often captured too using hidden cameras or other methods. Skimming is a global problem that results in over $1 billion in losses annually in the USA alone. The document provides details on common skimming techniques and hardware, as well as recommendations for financial institutions, law enforcement, and card holders.
Internet fraud involves using the internet to commit fraudulent activities. Common types of internet fraud include credit/debit card fraud, business deceit, and identity theft. To prevent internet fraud, it is important to keep firewalls and antivirus/antispyware software updated, use strong and unique passwords, watch out for phishing scams, and protect personal information.
Cscu module 10 social engineering and identity theftAlireza Ghahrood
An identity theft operation manufacturing fake checks, IDs, and credit cards was shut down by Oakland police. The operation was run out of an apartment in Hayward where over $4,000 in cash was found on the arrested resident. Separately, Suffolk police are seeking a woman wanted for using a stolen debit card from an elderly victim to make multiple ATM withdrawals and purchases. Identity theft costs victims over $54 billion annually and affects over 11 million adults in the US each year.
This document discusses internet fraud and provides information on:
- The nature and definitions of internet fraud, including using internet components like email, websites, and message boards to conduct fraudulent activities.
- Common types of internet fraud like auction fraud, credit/debit card fraud, and investment scams.
- Tools used to carry out internet fraud such as email, chat rooms, and spoofing/phishing websites.
- Statistics on internet crime complaints received by law enforcement in a given year, with internet auction fraud being the most reported offense.
This paper presents the awareness of Sim Swap attack among people and prevention of this attack, where the fraud person will Gain the personal information of person from different ways like fake call , sms ,Email, link, social media etc. mobile number is linked with bank and adhaar card the fraud person will gain the access of Bank account, credit card number and other personal information easily by trying various methods like MNC, Phone call, Hacking .It is difficult to undo the damage occurs. Snehal Manohar Awale | Dr. Praveen Gupta ""Awareness of Sim Swap Attack"" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-3 | Issue-4 , June 2019, URL: https://www.ijtsrd.com/papers/ijtsrd23982.pdf
Paper URL: https://www.ijtsrd.com/management/other/23982/awareness-of-sim-swap-attack/snehal-manohar-awale
SIM swapping occurs when a fraudster uses stolen personal information to take control of a victim's mobile phone SIM card. The fraudster dupes the mobile phone operator into transferring the victim's number to a SIM card in the fraudster's possession, allowing the fraudster to receive calls, texts, and access online accounts intended for the victim. Victims notice their mobile phone loses service and later find they can no longer access banking accounts. The document provides tips to help prevent SIM swapping such as regularly updating passwords, limiting personal information shared online, and promptly reporting lost mobile service or unauthorized account access to authorities.
1) The document discusses SIM swap fraud, which involves criminals convincing mobile carriers to transfer a victim's phone number to a SIM card in the criminal's possession. This allows them to intercept calls and texts, including banking one-time passcodes.
2) SIM swap fraud often works in tandem with phishing scams, where criminals first obtain personal details through phishing emails or texts before engaging in SIM swapping.
3) Statistics show SIM swap fraud is increasing, with over 1000 reported cases in South Africa in 2012 compared to under 100 in 2011. The document provides tips on how to protect against SIM swap and phishing scams.
This document discusses credit card hacking and hacker culture. It notes that credit card fraud rates are much higher for online transactions than in-person transactions. It then describes common methods that hackers use to steal credit card information, such as phishing scams, hacking retailer databases, and keylogging malware. It defines a "carder" as a criminal who specializes in stealing credit card data. The document also provides an overview of hacker culture and the different types of hackers, including black hat, white hat, and grey hat hackers.
This document discusses ATM card skimming and provides information on how it works, trends in the Caribbean region, recommendations to address the issue, and tips to reduce risk. It notes that skimming devices illegally record card data and PIN numbers are often captured too using hidden cameras or other methods. Skimming is a global problem that results in over $1 billion in losses annually in the USA alone. The document provides details on common skimming techniques and hardware, as well as recommendations for financial institutions, law enforcement, and card holders.
Internet fraud involves using the internet to commit fraudulent activities. Common types of internet fraud include credit/debit card fraud, business deceit, and identity theft. To prevent internet fraud, it is important to keep firewalls and antivirus/antispyware software updated, use strong and unique passwords, watch out for phishing scams, and protect personal information.
Cscu module 10 social engineering and identity theftAlireza Ghahrood
An identity theft operation manufacturing fake checks, IDs, and credit cards was shut down by Oakland police. The operation was run out of an apartment in Hayward where over $4,000 in cash was found on the arrested resident. Separately, Suffolk police are seeking a woman wanted for using a stolen debit card from an elderly victim to make multiple ATM withdrawals and purchases. Identity theft costs victims over $54 billion annually and affects over 11 million adults in the US each year.
This document discusses internet fraud and provides information on:
- The nature and definitions of internet fraud, including using internet components like email, websites, and message boards to conduct fraudulent activities.
- Common types of internet fraud like auction fraud, credit/debit card fraud, and investment scams.
- Tools used to carry out internet fraud such as email, chat rooms, and spoofing/phishing websites.
- Statistics on internet crime complaints received by law enforcement in a given year, with internet auction fraud being the most reported offense.
This paper presents the awareness of Sim Swap attack among people and prevention of this attack, where the fraud person will Gain the personal information of person from different ways like fake call , sms ,Email, link, social media etc. mobile number is linked with bank and adhaar card the fraud person will gain the access of Bank account, credit card number and other personal information easily by trying various methods like MNC, Phone call, Hacking .It is difficult to undo the damage occurs. Snehal Manohar Awale | Dr. Praveen Gupta ""Awareness of Sim Swap Attack"" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-3 | Issue-4 , June 2019, URL: https://www.ijtsrd.com/papers/ijtsrd23982.pdf
Paper URL: https://www.ijtsrd.com/management/other/23982/awareness-of-sim-swap-attack/snehal-manohar-awale
SIM swapping occurs when a fraudster uses stolen personal information to take control of a victim's mobile phone SIM card. The fraudster dupes the mobile phone operator into transferring the victim's number to a SIM card in the fraudster's possession, allowing the fraudster to receive calls, texts, and access online accounts intended for the victim. Victims notice their mobile phone loses service and later find they can no longer access banking accounts. The document provides tips to help prevent SIM swapping such as regularly updating passwords, limiting personal information shared online, and promptly reporting lost mobile service or unauthorized account access to authorities.
1) The document discusses SIM swap fraud, which involves criminals convincing mobile carriers to transfer a victim's phone number to a SIM card in the criminal's possession. This allows them to intercept calls and texts, including banking one-time passcodes.
2) SIM swap fraud often works in tandem with phishing scams, where criminals first obtain personal details through phishing emails or texts before engaging in SIM swapping.
3) Statistics show SIM swap fraud is increasing, with over 1000 reported cases in South Africa in 2012 compared to under 100 in 2011. The document provides tips on how to protect against SIM swap and phishing scams.
The online shadow economy refers to the criminal black market on the internet. It is worth over $105 billion globally and involves tens of thousands of specialized participants. Malware authors can produce new, unique malware every 45 seconds to stay ahead of detection methods. The shadow economy operates like a legitimate economy, with various criminal roles specialized in activities like malware creation, distribution, identity theft, and money laundering.
Group members for the AFM presentation on electronic fraud tactics include Pratichi Bhatia, Vishruti Arora, Akanksha Rathi, Deeksha Malik, and Shivam Sharma from IBS Gurgaon. The document discusses phishing, vishing, and ways to prevent electronic fraud. Phishing involves masquerading as a trustworthy entity to obtain sensitive information, while vishing uses voice technology to trick victims into revealing financial or personal details. People should be careful not to share private information over unsolicited phone calls and to review account statements regularly.
The vacation rental industry is about people putting up their homes for rental, on online marketplaces like Homeaway and AirBnB. This opens up unique possibilities for fraud -- where the tenants could be fake, might damage the property or steal from the home. To avoid this, the technology platforms have to conduct "cyber-security" checks such as credit card verification, address verification and more advanced analytics such as velocity checks etc. As an expert in this field, I presented recently at the industry forum for women entrepreneurs.
Internet fraud takes many forms and causes significant financial losses each year. Some key points:
- Internet fraud includes phishing scams (tricking people into sharing private info), identity theft, auction fraud, and online purchase scams. Criminals use emails, social media, and fake websites to steal money, personal details, or valuable goods.
- Data shows 39.2% of all crimes in England and Wales are internet fraud-related. One personal example described receiving a phishing email disguised as being from Google, trying to steal login details.
- Identity theft allows criminals to impersonate victims and take on debt or create criminal records in their name. Online purchase scams involve selling fake or
The document discusses various types of fraud that occur on the internet, including fraudulent promotions on electronic bulletin boards, disguised advertising in discussion groups, e-mail scams involving worthless products and pyramid schemes, risky investment opportunities and stock manipulations. It provides tips for protecting yourself such as being wary of sites you are unfamiliar with, not revealing personal financial information online unless you are sure where it is going, and knowing the company you plan to do business with. Consumers should report any suspected fraudulent activity to organizations like the National Fraud Information Center.
This document is a criminal complaint and affidavit in support of an arrest warrant against Maksim Zaslavskiy. It alleges that from July 2017 to October 2017, Zaslavskiy conspired to commit securities fraud related to two companies he owned called REcoin and Diamond. Specifically, it alleges that through material misrepresentations, Zaslavskiy fraudulently raised over $300,000 from investors for supposed investments in digital tokens from the ICOs of these companies, when in fact the tokens were securities that were offered and sold without registration. The affidavit provides background on ICOs and securities, describes REcoin and Diamond and their fraudulent activities, and outlines the SEC complaint against Zaslavskiy alleging similar
This document discusses securing online transactions. It describes how to identify trustworthy and untrustworthy websites, choose secure online payment services, and use SSL encryption and the padlock symbol to enhance security. Various methods for online payments are described, including credit cards, stored value cards, smart cards, digital cash, and e-wallets. Guidelines are provided for using these options safely and preventing credit card fraud.
This document discusses a model for reducing phishing attacks involving SIM card cloning in internet banking. It begins with an introduction describing how internet banking in South Africa has become vulnerable to fraudsters using phishing to steal users' information and then conducting fraudulent SIM swaps to intercept authorization codes. The background section then reviews literature on the causes of this vulnerability, how phishing and SIM cloning is used in these attacks, and the elements needed to reduce such fraudulent transactions, including increased cooperation between banks and mobile operators. The proposed model aims to reflect the actions needed by these groups to address this growing security problem.
Credit card fraud occurs when someone uses another person's credit card or account information without permission. Common types of fraud include using lost or stolen cards, identity theft, skimming card information, and phishing for personal details. To reduce risk, people should destroy expired cards, sign new ones, keep PINs secure, monitor statements, and be wary of sharing information online or with strangers.
The document discusses credit card fraud and provides tips to help consumers protect themselves. It covers types of fraud like unauthorized charges, counterfeit cards, identity theft, dumpster diving, skimming, and phishing. It recommends securing credit cards and account information, monitoring statements for unauthorized activity, and promptly reporting any fraud. Steps are outlined for disputing charges and information is provided about resources for consumer assistance.
Proxy servers act as an intermediary between users and websites, caching frequently requested pages to reduce load times. Trojan viruses appear harmless but allow attackers to access systems, recording keystrokes and installing malware. IP addresses are numeric identifiers for devices on a network that allow routing of information. Affiliate marketing involves promoting other companies' products and earning commissions from resulting sales.
IJRET : International Journal of Research in Engineering and Technology is an international peer reviewed, online journal published by eSAT Publishing House for the enhancement of research in various disciplines of Engineering and Technology. The aim and scope of the journal is to provide an academic medium and an important reference for the advancement and dissemination of research results that support high-level learning, teaching and research in the fields of Engineering and Technology. We bring together Scientists, Academician, Field Engineers, Scholars and Students of related fields of Engineering and Technology.
This document discusses two forms of internet identity theft: phishing and pharming. Phishing involves fraudulent websites designed to steal personal information, while pharming uses viruses to redirect users to fake websites. To avoid becoming a victim, consumers should be wary of unsolicited requests for information, avoid following links in emails, and only use secure websites. Regularly checking accounts and installing anti-phishing software can also help protect personal information from being stolen online.
Credit card fraud is a type of theft where a credit card or payment information is used without authorization to obtain money or goods. Common types of credit card fraud include counterfeiting cards, using lost or stolen cards, providing card details without the physical card, and identity theft. An estimated Rs 8.2 crore is lost annually in India to credit card fraud. Victims have included ordinary citizens as well as prominent individuals. Fraud can be committed by cloning cards using scanning devices or stealing card information through unsecure online transactions. Consumers should protect themselves by being vigilant with their cards and payment details.
Online scams and frauds are one of the oldest tools in the box of cybercriminals. In this presentation, we help you understand:
a. The various types of online scams
b. Tips to stay safe from such scams
c. How Quick Heal can help prevent such scams
company names mentioned herein are for identification and educational purposes only and are the property of, and may be trademarks of, their respective owners.
FBI takedown of Gameover Zeus (GOZ) Botnet --- Original complaintDavid Sweigert
This document is a complaint filed by the United States against several defendants for their involvement in the Gameover Zeus (GOZ) botnet and Cryptolocker malware. It alleges that the defendants used GOZ and Cryptolocker to steal banking credentials and encrypt files, causing over $100 million in losses globally. The complaint seeks injunctive relief to prevent further harm by stopping the defendants' criminal activities and dismantling the GOZ botnet and Cryptolocker malware.
This class action lawsuit alleges that Forex Capital Markets (FXCM) engaged in fraudulent and deceptive practices that systematically depleted customers' trading accounts. The complaint alleges that FXCM used aggressive marketing to attract unsuspecting retail traders but manipulated prices and prevented customers from closing profitable trades, allowing FXCM to profit instead. The lawsuit seeks monetary and injunctive relief on behalf of customers nationwide for violations of RICO, state consumer protection laws, and breach of contract.
This document is a class action complaint filed against Dynamic Ledger Solutions, Inc., Tezos Stiftung, Kathleen Breitman, and Arthur Breitman for violating federal securities laws by conducting an unregistered securities offering of Tezos tokens. The complaint alleges that the defendants raised over $232 million worth of bitcoin and ethereum from investors in 2017 without registering the offering with the SEC, and that the contributed funds have since increased in value to over $600 million. The plaintiffs seek rescission of the transactions and recovery of their investments plus appreciation in value.
1. The SEC filed a complaint against Ivars Auzins for orchestrating two fraudulent investment schemes, Denaro and Innovamine, which raised over $18 million from investors through misrepresentations.
2. For both schemes, Auzins used fake identities and addresses to register companies and create fraudulent online profiles using stock photos to market the schemes. He falsely claimed the companies had developed capabilities that did not exist.
3. Investors were told their funds would be invested, but Auzins misappropriated nearly all of the money raised for his personal use. The SEC is seeking penalties, repayment of funds, and to restrict Auzins from further involvement in securities offerings.
This document is a complaint filed by the Securities and Exchange Commission (SEC) against John McAfee and Jimmy Watson alleging securities law violations related to their promotion of initial coin offerings (ICOs) on Twitter. Specifically, the SEC alleges that from 2017-2018:
1) McAfee promoted at least seven ICOs on Twitter without disclosing that he was paid over $23 million by the issuers to do so. When asked, he lied about being paid for the promotions.
2) McAfee falsely claimed to be an investor in and advisor to some of the ICO projects, when in reality his tweets were paid promotions disguised as impartial advice.
3) After his paid promotions
The online shadow economy refers to the criminal black market on the internet. It is worth over $105 billion globally and involves tens of thousands of specialized participants. Malware authors can produce new, unique malware every 45 seconds to stay ahead of detection methods. The shadow economy operates like a legitimate economy, with various criminal roles specialized in activities like malware creation, distribution, identity theft, and money laundering.
Group members for the AFM presentation on electronic fraud tactics include Pratichi Bhatia, Vishruti Arora, Akanksha Rathi, Deeksha Malik, and Shivam Sharma from IBS Gurgaon. The document discusses phishing, vishing, and ways to prevent electronic fraud. Phishing involves masquerading as a trustworthy entity to obtain sensitive information, while vishing uses voice technology to trick victims into revealing financial or personal details. People should be careful not to share private information over unsolicited phone calls and to review account statements regularly.
The vacation rental industry is about people putting up their homes for rental, on online marketplaces like Homeaway and AirBnB. This opens up unique possibilities for fraud -- where the tenants could be fake, might damage the property or steal from the home. To avoid this, the technology platforms have to conduct "cyber-security" checks such as credit card verification, address verification and more advanced analytics such as velocity checks etc. As an expert in this field, I presented recently at the industry forum for women entrepreneurs.
Internet fraud takes many forms and causes significant financial losses each year. Some key points:
- Internet fraud includes phishing scams (tricking people into sharing private info), identity theft, auction fraud, and online purchase scams. Criminals use emails, social media, and fake websites to steal money, personal details, or valuable goods.
- Data shows 39.2% of all crimes in England and Wales are internet fraud-related. One personal example described receiving a phishing email disguised as being from Google, trying to steal login details.
- Identity theft allows criminals to impersonate victims and take on debt or create criminal records in their name. Online purchase scams involve selling fake or
The document discusses various types of fraud that occur on the internet, including fraudulent promotions on electronic bulletin boards, disguised advertising in discussion groups, e-mail scams involving worthless products and pyramid schemes, risky investment opportunities and stock manipulations. It provides tips for protecting yourself such as being wary of sites you are unfamiliar with, not revealing personal financial information online unless you are sure where it is going, and knowing the company you plan to do business with. Consumers should report any suspected fraudulent activity to organizations like the National Fraud Information Center.
This document is a criminal complaint and affidavit in support of an arrest warrant against Maksim Zaslavskiy. It alleges that from July 2017 to October 2017, Zaslavskiy conspired to commit securities fraud related to two companies he owned called REcoin and Diamond. Specifically, it alleges that through material misrepresentations, Zaslavskiy fraudulently raised over $300,000 from investors for supposed investments in digital tokens from the ICOs of these companies, when in fact the tokens were securities that were offered and sold without registration. The affidavit provides background on ICOs and securities, describes REcoin and Diamond and their fraudulent activities, and outlines the SEC complaint against Zaslavskiy alleging similar
This document discusses securing online transactions. It describes how to identify trustworthy and untrustworthy websites, choose secure online payment services, and use SSL encryption and the padlock symbol to enhance security. Various methods for online payments are described, including credit cards, stored value cards, smart cards, digital cash, and e-wallets. Guidelines are provided for using these options safely and preventing credit card fraud.
This document discusses a model for reducing phishing attacks involving SIM card cloning in internet banking. It begins with an introduction describing how internet banking in South Africa has become vulnerable to fraudsters using phishing to steal users' information and then conducting fraudulent SIM swaps to intercept authorization codes. The background section then reviews literature on the causes of this vulnerability, how phishing and SIM cloning is used in these attacks, and the elements needed to reduce such fraudulent transactions, including increased cooperation between banks and mobile operators. The proposed model aims to reflect the actions needed by these groups to address this growing security problem.
Credit card fraud occurs when someone uses another person's credit card or account information without permission. Common types of fraud include using lost or stolen cards, identity theft, skimming card information, and phishing for personal details. To reduce risk, people should destroy expired cards, sign new ones, keep PINs secure, monitor statements, and be wary of sharing information online or with strangers.
The document discusses credit card fraud and provides tips to help consumers protect themselves. It covers types of fraud like unauthorized charges, counterfeit cards, identity theft, dumpster diving, skimming, and phishing. It recommends securing credit cards and account information, monitoring statements for unauthorized activity, and promptly reporting any fraud. Steps are outlined for disputing charges and information is provided about resources for consumer assistance.
Proxy servers act as an intermediary between users and websites, caching frequently requested pages to reduce load times. Trojan viruses appear harmless but allow attackers to access systems, recording keystrokes and installing malware. IP addresses are numeric identifiers for devices on a network that allow routing of information. Affiliate marketing involves promoting other companies' products and earning commissions from resulting sales.
IJRET : International Journal of Research in Engineering and Technology is an international peer reviewed, online journal published by eSAT Publishing House for the enhancement of research in various disciplines of Engineering and Technology. The aim and scope of the journal is to provide an academic medium and an important reference for the advancement and dissemination of research results that support high-level learning, teaching and research in the fields of Engineering and Technology. We bring together Scientists, Academician, Field Engineers, Scholars and Students of related fields of Engineering and Technology.
This document discusses two forms of internet identity theft: phishing and pharming. Phishing involves fraudulent websites designed to steal personal information, while pharming uses viruses to redirect users to fake websites. To avoid becoming a victim, consumers should be wary of unsolicited requests for information, avoid following links in emails, and only use secure websites. Regularly checking accounts and installing anti-phishing software can also help protect personal information from being stolen online.
Credit card fraud is a type of theft where a credit card or payment information is used without authorization to obtain money or goods. Common types of credit card fraud include counterfeiting cards, using lost or stolen cards, providing card details without the physical card, and identity theft. An estimated Rs 8.2 crore is lost annually in India to credit card fraud. Victims have included ordinary citizens as well as prominent individuals. Fraud can be committed by cloning cards using scanning devices or stealing card information through unsecure online transactions. Consumers should protect themselves by being vigilant with their cards and payment details.
Online scams and frauds are one of the oldest tools in the box of cybercriminals. In this presentation, we help you understand:
a. The various types of online scams
b. Tips to stay safe from such scams
c. How Quick Heal can help prevent such scams
company names mentioned herein are for identification and educational purposes only and are the property of, and may be trademarks of, their respective owners.
FBI takedown of Gameover Zeus (GOZ) Botnet --- Original complaintDavid Sweigert
This document is a complaint filed by the United States against several defendants for their involvement in the Gameover Zeus (GOZ) botnet and Cryptolocker malware. It alleges that the defendants used GOZ and Cryptolocker to steal banking credentials and encrypt files, causing over $100 million in losses globally. The complaint seeks injunctive relief to prevent further harm by stopping the defendants' criminal activities and dismantling the GOZ botnet and Cryptolocker malware.
This class action lawsuit alleges that Forex Capital Markets (FXCM) engaged in fraudulent and deceptive practices that systematically depleted customers' trading accounts. The complaint alleges that FXCM used aggressive marketing to attract unsuspecting retail traders but manipulated prices and prevented customers from closing profitable trades, allowing FXCM to profit instead. The lawsuit seeks monetary and injunctive relief on behalf of customers nationwide for violations of RICO, state consumer protection laws, and breach of contract.
This document is a class action complaint filed against Dynamic Ledger Solutions, Inc., Tezos Stiftung, Kathleen Breitman, and Arthur Breitman for violating federal securities laws by conducting an unregistered securities offering of Tezos tokens. The complaint alleges that the defendants raised over $232 million worth of bitcoin and ethereum from investors in 2017 without registering the offering with the SEC, and that the contributed funds have since increased in value to over $600 million. The plaintiffs seek rescission of the transactions and recovery of their investments plus appreciation in value.
1. The SEC filed a complaint against Ivars Auzins for orchestrating two fraudulent investment schemes, Denaro and Innovamine, which raised over $18 million from investors through misrepresentations.
2. For both schemes, Auzins used fake identities and addresses to register companies and create fraudulent online profiles using stock photos to market the schemes. He falsely claimed the companies had developed capabilities that did not exist.
3. Investors were told their funds would be invested, but Auzins misappropriated nearly all of the money raised for his personal use. The SEC is seeking penalties, repayment of funds, and to restrict Auzins from further involvement in securities offerings.
This document is a complaint filed by the Securities and Exchange Commission (SEC) against John McAfee and Jimmy Watson alleging securities law violations related to their promotion of initial coin offerings (ICOs) on Twitter. Specifically, the SEC alleges that from 2017-2018:
1) McAfee promoted at least seven ICOs on Twitter without disclosing that he was paid over $23 million by the issuers to do so. When asked, he lied about being paid for the promotions.
2) McAfee falsely claimed to be an investor in and advisor to some of the ICO projects, when in reality his tweets were paid promotions disguised as impartial advice.
3) After his paid promotions
New Kmart Data Breach lawsuit spotlights PCI DSSDavid Sweigert
This document is a class action complaint filed against Kmart Corporation and Sears Holdings Corporation regarding a data breach at Kmart stores from early September 2014 through October 2014. It alleges that the defendants failed to adequately protect customer payment card data, allowing hackers to access hundreds of thousands of customer accounts. This forced financial institutions, like the plaintiff Greater Chautauqua Federal Credit Union, to incur costs from reissuing cards, reimbursing customers for fraudulent charges, and responding to customers concerns about the breach. The complaint asserts claims of negligence, violations of consumer protection laws, and seeks damages on behalf of the plaintiff and other similarly situated financial institutions.
1) Lee Simmons perpetrated a scheme to manipulate the stock price of BlueLinx Holdings through a fraudulent tender offer announcement, in an attempt to profit from options trading.
2) Simmons purchased over 900 out-of-the-money call options for BlueLinx stock. He then issued false press releases in February 2020 announcing a tender offer by his company Bluefin to acquire BlueLinx shares.
3) The tender offer was a sham intended to artificially inflate BlueLinx's stock price. After the announcements, Simmons was able to sell some call options for a $24,000 profit before the options expired. The SEC alleges Simmons violated various securities laws through his fraudulent scheme.
United states securities_and_exchange_v_middleton_et_al__nyedce-19-04625__0001.0Hindenburg Research
SEC files emergency action to stop the founders of VERI tokens from dissipating the remaining $8 million of allegedly fraudulently raised crypto proceeds
The CFTC has filed a complaint against MXBK Group S.A. de C.V. and its forex trading division MBFX S.A. for violations of the Commodity Exchange Act. The complaint alleges that from 2005-present, the defendants accepted over $28 million from over 800 US customers, including some in Utah, to trade forex in pooled accounts but incurred losses of over $29 million. It also claims that on multiple occasions from June 2008-April 2009, the defendants reported fictional trading profits to customers when they had actually incurred losses, and provided false explanations for losses incurred in November 2008. The CFTC is seeking to enjoin the unlawful acts, obtain restitution, dis
The document summarizes an international phishing operation called "Operation Phish Phry" carried out by the FBI and Egyptian authorities in 2007. An Egyptian-based criminal group hacked into American bank accounts by obtaining victims' information through phishing. They shared this information with co-conspirators in the US who transferred funds into fraudulent accounts. The FBI notified Egyptian authorities, and a joint investigation and arrests in both countries resulted. 53 defendants were named in the US and 47 suspects in Egypt. The operation highlighted cooperation between US and Egyptian law enforcement according to their respective laws while respecting national sovereignty.
This document is a complaint filed by the United States Securities and Exchange Commission (SEC) alleging that John Fife and five entities he owns have been operating as unregistered securities dealers in violation of federal law. The SEC alleges that from 2015 to the present, the defendants purchased over 250 convertible promissory notes from approximately 135 penny stock issuers, converted the notes into billions of newly issued shares, and sold the shares for over $61 million in profits. The SEC is seeking to enjoin the defendants from further violations and to obtain disgorgement, penalties, and other equitable relief.
New York AG vs. JP Morgan Chase, Bear Stearns, EMC Mortgage - LawsuitUmesh Heendeniya
This document is a complaint filed by the Attorney General of New York against J.P. Morgan Securities LLC, JPMorgan Chase Bank, N.A., and EMC Mortgage LLC regarding their role in the creation and sale of residential mortgage-backed securities (RMBS). The complaint alleges that the defendants committed fraud by misrepresenting the quality and underwriting of the mortgage loans underlying the RMBS. It claims the defendants failed to properly evaluate the loans, ignored defects, and did not inform investors about issues. As a result, the RMBS contained many loans that were made to borrowers who could not repay and defaulted at high rates, causing investors in the RMBS to suffer large losses.
This document is a complaint filed by the Attorney General of New York against J.P. Morgan Securities LLC, JPMorgan Chase Bank, N.A., and EMC Mortgage LLC regarding their role in the creation and sale of residential mortgage-backed securities (RMBS). The complaint alleges that the defendants committed fraud by misrepresenting the quality and underwriting of the mortgage loans underlying the RMBS. It claims the defendants failed to properly evaluate the loans, ignored defects, and did not inform investors about problems. As a result, the RMBS contained many loans that were made to borrowers who could not repay them, leading to high default rates that caused huge losses for investors. The complaint seeks to hold
The document summarizes a defamation case between Biomatrix, a medical company, and Raymond Costanzo, Ehpraim Morris, and Richard Costanzo, who posted over 16,000 critical messages about Biomatrix on an online forum under pseudonyms. The posts made unsubstantiated claims about Biomatrix's products and management and caused the company's stock price to drop. Biomatrix sued for defamation and the court ordered the identities of the posters to be revealed, finding them guilty of libel.
1) Gregg Caplitz and his investment advisory firm IOSM are accused of defrauding investors by soliciting funds for a purported hedge fund called the Insight Onsite Fund and membership in Insight Onsite Partners, which was to serve as the fund's general partner.
2) Instead of investing the funds as promised, Caplitz and IOSM transferred control of investors' money to relief defendants Rosalind Herman and her family members, who used the funds primarily for personal expenses.
3) The SEC alleges that Caplitz and IOSM violated various securities laws and seeks remedies including disgorgement of ill-gotten gains, civil penalties, and permanent injunctions
Failed injunction attempt by Maria Crimi Speth and Adam Kunz of Jaburg & Wilk fail against protest group. No doubt an appeal will be filed but interesting concept that will likely be copied by others.
Also some pretty good information from the courts I intend to use for my own law suit. The word extortion used by the judge.
Plaintiffs filed a complaint against Defendants alleging fraud and other unlawful conduct. Specifically, Plaintiffs claim that Defendants John Textor and Rene Eichenberger, founders and executives of Defendant Pulse Evolution Corporation, fraudulently induced Plaintiffs to invest millions of dollars in Pulse by making false representations about how the funds would be used. However, according to Plaintiffs, Pulse was actually a sham entity operated as a Ponzi scheme, with Textor and Eichenberger embezzling invested funds for personal use rather than legitimate business purposes. Plaintiffs seek monetary damages and other relief from Defendants.
Cybercrime poses a significant threat to financial institutions, as criminals use phishing, pharming, and malware to gain sensitive customer information and commit fraud. For consumer accounts, financial institutions are generally liable for losses from unauthorized transactions, unless they had reasonable authentication methods in place. For business accounts, liability depends on whether the bank's security procedures were commercially reasonable and used in good faith. Courts have found banks liable for losses where they failed to properly monitor for suspicious transactions or implement recommended security features declined by customers. Financial institutions can help mitigate risks by using multiple authentication factors and keeping customers informed of security best practices.
The FDIC is proposing regulations for foreign currency futures, options, and similar transactions ("retail forex transactions") that insured depository institutions engage in with retail customers. The regulations would impose disclosure, recordkeeping, capital, margin, reporting, business conduct, and documentation requirements. The regulations are proposed pursuant to the Dodd-Frank Act and are modeled after similar regulations issued by the CFTC, to promote consistent treatment of retail forex transactions regardless of the dealer. The FDIC seeks comment on whether the proposed rule and existing NDIP Policy Statement could cause confusion and if any issues need to be addressed.
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The Foreign Exchange Committee released the results of its twelfth survey of North American foreign exchange volume. The survey found that average daily volume in over-the-counter FX instruments totaled $754 billion in April 2010, an 11.8% increase from October 2009 and just below the record of $762 billion in October 2008. Spot transactions accounted for 55% of total volume while swaps and forwards saw new highs. The survey collects data from leading financial institutions on FX activity in North America.
Swissquote saw a 36.1% increase in revenues and a 29.9% increase in net profit in the first half of 2011 despite the tense global economic situation. Trading operations revenues increased the most at 125.6% due to the acquisition of ACM. Growth slowed in the second quarter with a 1.6% increase in the number of accounts and a 7.9% decrease in assets under custody. Swissquote announced new cooperative ventures with BLKB for online mortgages and Swiss Life for banking products that could provide significant future potential.
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This document provides a financial review and outlook for Saxo Bank for the first half of 2010. Key points include:
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SOUTHERN DISTRICT OF NEW YORK
1. 10 CW 2217
UNITED STATES·DJSTRlCl' COURT.-J~- .... -
SOUTHERN DISTRICT OF NEW YORK
U.S. SECURITIES AND EXCHANGE COMMISSION, :
Plaintiff,
vs.
BROCO INVESTMENTS, INC. and
VALERY MALTSEV,
Defendants.
COMPLAINT
PlaintiffUnited States Securities and Exchange Commission ("Commission")
alleges as follows:
SUMMARY
1. The Commission files this emergency action to halt an ongoing fraud by .
BroCo Investments, Inc. ("BroCo") and its president, Valery Maltsev ("Maltsev"). This
action alleges violations ofthe federal securities laws by Maltsev, BroCo, and/or
individuals acting in concert with them, by repeatedly hijacking the online brokerage
accounts of unwitting investors using stolen usemames and passwords and subsequently
placing unauthorized trades through the compromised accounts. In almost every
instance, prior to intruding into these accounts, using an account they controlled at
Genesis Securities LLC ("Genesis"), the Defendants acquired positions in the same
securities that were the subjects ofthe unauthorized trades in the compromised accounts.
Minutes after acquiring these positions, and without the compromised accountholders'
knowledge, the Defendants, and/or individuals acting in concert with them, placed scores
2. of unauthorized buy orders at above-market prices using the compromised accounts.
After these unauthorized buy orders were placed, the Defendants sold the positions held
in their own account - positions they had established only moments earlier - at the
artificially inflated prices. In other instances, the Defendants profited by covering short
positions previously established in their account while placing unauthorized sell orders
through the compromised accounts at substantially lower prices. From August 2009 to
the present, these transactions have created the appearance of legitimate trading activity
and have artificially affected the prices ofat least thirty-eight issuers.
2. From August 2009 to December 2009, as a result of coordinating their
own trades with those effected during the unlawful intrusions into online brokerage
accounts, the Defendants realized unlawful trading profits ofat least $255,532. Online
broker-dealers whose customers' accounts were compromised during that time period
suffered losses ofat least $603,000 as a result ofthe Defendants' fraudulent conduct.
3. On February 26,2010, BroCo attempted to withdraw $110,000 from its
Genesis account via wire transfer. Then, on March 2, 2010, BroCo attempted to
withdraw an additional $200,000 from the account via wire transfer. Both withdrawals
requested that the funds be wired BroCo's bank·account in Cyprus. Genesis has not yet
processed these requests.
4. By virtue of their conduct, the Defendants have engaged in and, unless
enjoined, will continue to engage in, violations of Section 17(a) ofthe Securities Act of
1933 ("Securities Act") [15 U.S.C. § 77q(a)] and Section lOeb) of the Securities
Exchange Act of1934 ("Exchange Act") [15 U.S.C. § 78j(b)] and Rule IOb-5
promulgated thereunder [17 C.F.R. § 240.l0b-5].
- 2 -
3. JURISDICTION AND VENUE
5. The Commission brings this action, and this Court has jurisdiction over
this action, pursuant to authority conferred by Sections 20(b), 20(d) and 22(a) ofthe
Securities Act [15 U.S.C. §§ 77t(b), 77t(a) and 77v(a)] and Sections 2l(d), 2l(e) and 27
ofthe Exchange Act [15 U.S.C. §§ 78u(d), 77u(e) and 78aa].
6. This Court has personal jurisdiction over the Defendants and venue is
proper in the Southern District ofNew York pursuantto 28 U.S.C. § 1391(b)(2) because
a substantial part ofthe events or omissions giving rise to the claims occurred within this
District, and pursuant to Section 27 ofthe Exchange Act [15 U.S.C. § 78aa] because
some ofthe transactions, acts, practices, and courses ofbusiness constituting the
violations alleged herein occurred within this District.
7. The Defendants, directly and indirectly, have made use of the means and
instrumentalities ofinterstate commerce, and the means and instruments oftransportation
and communication in interstate commerce, in connection with the transactions, acts,
practices, and courses of business alleged in this Complaint.
DEFENDANTS
8. Defendant BroCa Investments, Inc. was formed in April 2008 and is
located in St. Petersburg, Russia, according to account opening documents at Genesis,
where BroCo maintains a securities trading account. According to the company's
website, however, BroCo is located in Limassol, Cyprus.
9. Defendant Valery Maltsev is believed to be a thirty-six year old Russian
citizen residing in or around St. Petersburg, Russia. According to account opening
- 3 -
4. documents at Genesis, Maltsev is BroCo's president and only officer, and has sole
trading authorization for BroCo's securities account.
FACTS
The Defendants' Account Intrusion Scheme
10. Beginning in at least August 2009 and continuing to the present, the
Defendants engaged in an elaborate scheme in which they manipulated, via account
intrusions, the markets for shares of at least thirty-eight issuers. The Defendants' modus
operandi was similar for each intrusion. The Defendants first purchased thinly traded
securities at the prevailing market prices using their own online brokerage account at
Genesis. Shortly thereafter, the Defendants and/or individuals acting in concert with
them, using stolen usemames and passwords, intruded into the online brokerage accounts
ofunsuspecting individuals. The Defendants and/or individuals acting in concert with
them then used these intruded accounts to place a series of unauthorized buy orders (for
shares ofthe same issuers purchased only moments earlier in the Defendants' account),
typically at prices well above the prevailing market prices for those thinly traded
securities. Immediately or shortly thereafter, the Defendants capitalized on the
artificially inflated share prices ofthe targeted securities by selling the shares previously
acquired in their account. In other instances, the Defendants profited by covering short
positions previously established in their account while placing unauthorized sell orders
through the compromised accounts at substantially lower prices.
11. Unwitting accountholders were victimized in several ways. Securities
held in the victims' online brokerage accounts were oftentimes liquidated in order to
finance the unauthorized trading. Many times, the victims whose accounts were hijacked
-4-
5. to make unauthorized purchases lost money when the securities returned to their pre-
manipulation prices.
12. Online broker-dealers whose customers' accounts were compromised and
used by the Defendants to make unauthorized trades suffered losses in excess of
$600,000. In addition, the Defendants' manipulative trading caused damage to
unknowing market participants who were attracted to the artificially inflated prices.
13. From August 17,2009 through the present, the BroCo account at Genesis
realized profits ofat least $255,532 from its trading in the following thirty-eight
securities, at or around the time of unauthorized trading in compromised accounts:
Enterra Energy Trust, ExpressJet Holdings, Inc., Icagen, Inc., Catalyst Pharmaceutical
Partners, Inc., Akeena Solar, Inc., American Technology Corp., Comstock Homebuilding
Companies, Inc., Magellan Petroleum Corp., Amcore Financial, Inc., Majesco
Entertainment Company, Akorn, Inc., Synthesis Energy Systems, Inc., iGo, Inc., Biofuel
Energy Corp., WPT Enterprises, Inc., BMB Munai, Inc., China INSOline Corp., Alliance
FiberOptic Products, 8x8 Inc., Active Power, Inc., Ante4, Inc., Antigenics, Inc., China
Direct Industries, Inc., EF Johnson Technologies, Inc., dELIA*s, Inc., Arotech Corp.,
First M & F Corporation, NewBridge Bancorp, Endwave Corporation, Rosetta Genomics,
Ltd., Cybex International, Inc., Vestin Realty Mortgage II, Inc., Clearfield, Inc., Parlux
Fragrances, Inc., Compton Petroleum Corp., Xerium Technologies, Newcastle
Investments Corp., and AmeriServ Financial, Inc. See Exhibit A, attached hereto.
14. On February 26, 2010, BroCo attempted to withdraw $110,000 from its
Genesis account via wire transfer. Then, on March 2,2010, BroCo attempted to
withdraw an additional $200,000 from the account via wire transfer. Both withdrawals
- 5 -
6. requested that the funds be wired BroCo's bank account in Cyprus. Genesis has not yet
processed these requests.
15. The Defendants' trading in AmeriServe Financial Inc. ("ASRV") is
representative ofthe scheme employed by BroCo and Maltsev with respect to the shares
ofthe other thirty-seven issuers.
AmeriServe Financial, Inc.
16. AmeriServe Financial Inc. is a publicly traded, Johnstown, Pennsylvania-
based bank. The company's shares are traded on the NASDAQ Global Market under the
symbol ASRV. From December 1 - December 20,2009, ASRV traded an average of
approximately 11,300 shares per day. On December 21,2009, trading in
ASRV increased more than twenty times, with 277,567 shares trading that day. At least
200,000 shares were bought or sold between BroCo's trades and the unauthorized trades
placed through compromised Scottrade accounts. On that day, ASRV opened at $1.60
per share and increased to an intraday high of$1.80 per share.
17. On December 21,2009, at 1:37 p.m. EST, BroCo bought 6,500 shares of
ASRV at a price of $1.51 per share.
18. Approximately one minute later, at 1:38 p.m., and continuing over the
ensuing ten minutes, three accounts at Scottrade, Inc. ("Scottrade") were illegally
accessed and, without the authorization or knowledge ofthe account holders, used to
purchase 102,200 shares of ASRV at prices ranging from $1.545 to $1.828 per share.
- 6 -
7. 19. From 1:39 p.m. until 1:49 p.m. - coinciding almost exactly with the
intrusion time period (1 :38 p.m. - 1:49 p.m.) - BroCo sold 80,000 shares of ASRV at
prices ranging from $1.70 to $1.80 per share.
20. The 73,500 shares BroCo sold in excess ofwhat it had previously
purchased resulted in a short position.
21. Between 1:50 p.m. and 1:52 p.m., unauthorized trades were placed
through the compromised Scottrade accounts, resulting in the sale of73,500 shares at
prices ranging from $1.466 to $1.74 per share.
22. From 1:50 p.m. to 1:52 p.m. - coinciding exactly with the intrusion time
period - BroCo covered its short position, purchasing 73,500 shares ata price of $1.55
per share.
23. By trading shares of ASRV within minutes ofunauthorized trading
through the compromised accounts, Maltsev and BroCo grossed $141,500 in
approximately fifteen minutes, realizing a net profit of$17,760. The unauthorized
purchase and sale orders in the intruded accounts during the ASRV intrusion resulted in
losses of $20,355.63 to the holders ofthe intruded accounts. In addition, Maltsev's
manipulative trading caused damage to market participants who purchased shares of
ASRV during the intrusion period.
- 7 -
8. COUNT I
Violations of Section 17(a) of the Securities Act
[15 U.S.C. § 77g(a))
24. The Commission re-alleges and incorporates by reference paragraphs 1
through 23 above.
25. As set forth more fully above, the Defendants, by engaging in the conduct
described above, directly or indirectly, in the offer or sale of securities, by the use of
means or instruments oftransportation or communication in interstate commerce or by
the use ofthe mails:
(a) knowingly or recklessly employed devices, schemes or artifices to
defraud;
(b) knowingly, recklessly or negligently obtained money or property by
means ofuntrue statements ofmaterial fact or by omitting to state material facts
necessary in order to make the statements made, in the light ofthe circumstances under
which they were made, not misleading; or
(c) knowingly, recklessly or negligently engaged in transactions, practices or
courses ofbusiness which operated or would operateas a fraud or deceit upon the
purchasers of such securities.
26. By reason of the foregoing, the Defendants have violated Section 17(a) of
the Securities Act [15 U.S.C. § 77q(a)].
- 8 -
9. COUNT II
Violations of Section lOeb) of the Exchange Act
[15 u.s.c. § 78j(b)] and Rule IOb-5 thereunder [17 C.F.R. § 240.10b-5]
27. The Commission re-alleges and incorporates by reference paragraphs 1
. through 23 above.
28. As set forth more fully above, the Defendants, by engaging in the conduct
described above, directly or indirectly, in connection with the purchase or sale of
securities, by the use of means or instrumentalities ofinterstate commerce, or ofthe
mails, or of a facility ofa national securities exchange, knowingly or recklessly:
(a) employed devices, schemes or artifices to defraud;
(b) made untrue statements of material facts or omitted to state material facts
necessary in order to make the statements made, in the light ofthe circumstances under
which they were made, not misleading; or
(c) engaged in acts, practices or courses of business which operated or would
operate as a fraud or deceit upon other persons.
29. By reason ofthe foregoing, the Defendants have violated Section 1o(b) of
the Exchange Act [15 U.S.C. § 78j(b)] and Rule lOb-5 thereunder [17 C.F.R. § 240. 10b-
5].
RELIEF REQUESTED
WHEREFORE, the Commission respectfully requests the Court:
I
Temporarily, preliminarily, and permanently restrain and enjoin the Defendants,
and each ofthe Defendants' agents, servants, employees, attorneys, and all persons in
- 9-
10. active concert or participation with them who receive actual notice ofthe injunction by
personal service or otherwise, and each of them, from future violations of Section 17(a)
ofthe Securities Act, Section lOeb) ofthe Exchange Act, and Rule IOb-5 thereunder;
II
Order the freezing ofthe Defendants assets and direct that all financial or
depository institutions comply with the Court's Order. Furthennore, order that the
Defendants immediately repatriate any funds held at any bank or other financial
institution not subject to the jurisdiction of the Court, and that they direct the deposit of
such funds into the registry ofthe Court, pending conclusion ofthis matter.
III
Order that the Defendants be restrained and enjoined from destroying, removing,
mutilating, altering, concealing, or disposing of, in any manner, any oftheir books and
records ofdocuments relating to the matters set forth in the Complaint, or the books and
records and such documents ofany entities under their control, until further order of the
Court.
IV
Order that the parties may commence discovery immediately, and that notice
periods be shortened to permit the parties to require production ofdocuments and the
taking ofdepositions, on 72-hours notice.
V
Order the Defendants to disgorge an amount equal to the funds and benefits they
obtained illegally as a result of the violations alleged herein, plus prejudgment interest on
that amount.
- 10 -
11. VI
Order the Defendants to pay civil penalties pursuant to Section 20(d) ofthe
Securities Act [15 U.S.C. § 77t(d)] and Section 21(d) ofthe Exchange Act [15 U.S.C. §
78u(d)].
VII.
Grant such other and further relief as this Court deems just and proper.
Respectfully submitted,
Suzanne J. Romajas -4531)
Justin Chretien (Pro hac vice admission pending)
Thomas A. Sporkin
David R. Herman
Adam M. Schoeberlein
Securities and Exchange Commission
100 F Street, N.E.
Washington, D.C. 20549:'4030
(202) 551-4953 [Chretien]
(202) 772-9245 [Chretien Fax]
ChretienJ@sec.gov
Attorneys for Plaintiff
Dated: March 15, 2010
- 11 -