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An Abney Associates Fraud Awareness Program: When Someone Steals Your Smartphone, Snap a Theftie

An Abney Associates Fraud Awareness Program: When Someone Steals Your Smartphone, Snap a Theftie | Abney & Associates News Articles | Scoop.it
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We all know selfies. And even dronies. But if you thought it could stop there, you are deeply naive. Bring on the “thefties.”
The name may come from a cheery social phenomenon, but thefties are a little more serious. They’re photos of electronics thieves taken with a tablet or smartphone’s front-facing camera. The…
Ada Huffman's insight:

We all know selfies. And even dronies. But if you thought it could stop there, you are deeply naive. Bring on the “thefties.”

 

The name may come from a cheery social phenomenon, but thefties are a little more serious. They’re photos of electronics thieves taken with a tablet or smartphone’s front-facing camera. The goal is to give police something to go on if your device is stolen, or let you ID the culprit if it's someone you know.

 

The mobile security company Lookout is marketing thefties as part of its software suite for iOS and Android. The service currently sends you email alerts when it seems like someone is tampering with your device (by entering incorrect security codes, trying to uninstall software, etc.), and then GPS-tracks it so you can locate it from a browser. But now the thefties feature will also activate the device's front-facing camera and stealthily photography whoever is staring down at it. You get the photo in your inbox with a map pointing to the device's location. This is the theftie.

 

The FCC says that 1 in 3 U.S. robberies concerns a mobile device, and the problem has motivated legislators and the telecommunications industry to begin working on safeguards. But consumers are looking for immediate solutions. Though thefties aren't perfect, because they may not capture a clear image depending on how the thief is holding the phone, they're certainly a creative solution. But as David Richardson, Lookout's lead product manager for iOS, told CNET, "Not everyone here likes the name."

 

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Ronald Rubin: How the 'Wolf of Wall Street' Really Did It

Ronald Rubin: How the 'Wolf of Wall Street' Really Did It | Abney & Associates News Articles | Scoop.it
In The Wall Street Journal, Ronald Rubin writes that the stock scam wasn't emblematic of greed in the Financial District. These guys were just shrewd crooks working out of Long Island.
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The stock scam wasn't emblematic of greed in the Financial District. These guys were just shrewd crooks working out of Long Island.

 

The swindler known as the "Wolf of Wall Street" taught me how to pull off his boiler-room fraud, down to the smallest details. Movie director Martin Scorsese's lurid version of the tale now showing in multiplexes doesn't capture how the scams really worked.

 

In early 2000, Jordan Belfort and Danny Porush (renamed Donnie Azoff in the movie) were under house arrest. Faced with overwhelming evidence, they had cut deals with the government to reduce their jail sentences by ratting on their friends. One such friend was Steve Madden, the shoe designer who had played a supporting role in many of their crimes. I was the Securities and Exchange Commission enforcement attorney assigned to put together the SEC's case against Madden.

 

As "cooperating witnesses," Belfort and Porush spent many hours explaining to me the finer points of how they used their brokerage firm, Stratton Oakmont, to steal millions of dollars from investors, and convincing me that Madden had been a knowing participant in their schemes. Madden eventually paid millions to the government and spent considerably more time (30 months) locked up in federal prison than Belfort (22 months).

 

The Scorsese movie glosses over the nuts and bolts of how Jordan and his merry men bilked seemingly hapless suckers out of their life savings en route to the more entertaining sex, drugs and partying that his crimes financed. Today, in the era of Occupy Wall Street protests and seemingly daily multimillion-dollar regulatory fines against financial firms, it is tempting to view Jordan Belfort as emblematic of Wall Street's greed. In fact, he was nothing more than a thief who found a way to steal from anyone who trusted him and to blame it on the stock market.

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An Abney Associates Fraud Awareness Program: Click patterns, an IBM patents technique for killing fraud

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A new technology would pick up on suspicious changes in people's online activity

 

 

Someday, if you use your non-dominant hand to control your mouse or touchpad when you're say, shopping online, websites might interpret your irregular scrolling and clicking as a sign of fraud and require you to prove your identity, thanks to an IBM fraud-detection patent.

 

The company has patented a technique for better detecting fraud online to prevent the theft of log-in credentials and other sensitive information, particularly in e-commerce and banking, it said Friday.

 

U.S. patent #8,650,080 is intended for a "user-browser interaction-based fraud detection system."

 

How people interact with websites, such as the areas of a page they click on, whether they navigate with a mouse or keyboard, and even how they swipe through screens on a smartphone or tablet, can all be identified, IBM said. The technology could identify sudden changes in online behavior, which would then trigger a secondary authentication measure, like a security question. It would work on a mobile device or PC.

 

If the technology works as IBM says it will, and other businesses license it, it could help to secure online transactions against cyberattacks, such as the recent eBay hack. Sensitive information of up to 145 million people may have been breached in that recent attack.

 

It would also lend credence to IBM's previously stated ideas related to a "digital guardian" that would protect Internet users.

 

"It's important to prevent fraudulent financial transactions before they happen," said Brian O'Connell, an IBM engineer and co-inventor of the patent.

 

Trusteer, an IBM-owned company that makes malware detection technology mostly for banks, is already using some of the technology in the patent, IBM engineers said Friday. Other sites like eBay or Amazon might one day choose to license it as well.

 

While it might seem that the technology has the potential to cause false positives, IBM said the prototype it tested successfully confirmed identities and showed that sudden changes in browsing behavior were likely due to fraud.

 

And some Internet users might consider the technology to be an invasion of privacy. But the data gathered through the technology would not amount to personally identifiable information, said Keith Walker, another co-inventor on the patent.

 

Tackling fraud and financial crime is high on the agenda for IBM. Recently the company announced new software and services to address the US$3.5 trillion lost each year to fraud.

 

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Abney & Associates News Articles: 5 Ways to Stay Safe From ID Thieves, Fraud on Cyber Monday

Abney & Associates News Articles: 5 Ways to Stay Safe From ID Thieves, Fraud on Cyber Monday | Abney & Associates News Articles | Scoop.it
Bigger cash payouts on key holidays attracts a criminal element, and Cyber Monday is big enough for concern.
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NEW YORK (TheStreet) -- Cyber Monday has a ways to go before it measures up to its book-ended big brother, Black Friday.

 

But it's moving up fast, and that should lead to more safety concerns over identity theft and online scams among technology consumers.

 

According to IBISWorld, Cyber Monday pulls in 15% of the revenues of Black Friday. But this year, it should grow by 13.1% compared with last year to bring in $1.8 billion -- the biggest technology day on the calendar for U.S. retailers...


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http://online.wsj.com/community/groups/abney-associates-1685/topics/hong-kong---abney-associates
https://foursquare.com/lhexisneal/list/abney-associates

 

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