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AWS adds new Amazon Fraud Detector to fight fraud
by Paul Hill
A new tool called Amazon Fraud Detector has been added to Amazon Web Services (AWS) to help stamp out fraudulent online activities such as online payment and identity fraud. Amazon Fraud Detector leverages machine learning and over 20 years of fraud detection expertise from Amazon to detect fraud in milliseconds. Amazon said that there will be no upfront payments for using the service, instead, customers will pay for their actual usage of the service.
Commenting on the launch, Swami Sivasubramanian, Vice President, Machine Learning, said:
With the new fraud detector, Amazon also offers developers with machine learning experience the ability to extend the utility of the tool by using different machine learning models built with Amazon Fraud Detector and Amazon SageMaker.
With the launch, Amazon Fraud Detector is available in U.S. East (N. Virginia), U.S. East (Ohio), U.S. West (Oregon), EU (Ireland), Asia Pacific (Singapore), and Asia Pacific (Sydney), with availability in additional regions in the coming months. To learn more, head on over to the Amazon Fraud Detector product page.
EE launches Digital Identity platform to prevent fraud
by Paul Hill
EE has announced its new Digital Identity platform which it hopes will protect customers from becoming fraud victims. The platform consists of a number of tools including a SIM swap checker and a call diversion checker. EE has worked with several banks in the UK that can now leverage these tools to provide more security when authenticating customers.
The SIM Swap feature lets a business know when the customer’s SIM was last changed. According to EE, a recent SIM card switch could indicate fraud where an attacker is trying to intercept calls and texts without the account holder’s knowledge. With the new SIM Swap tool, banks will know when a SIM has been changed and can prevent a fraudulent transaction by requiring further identity checks.
The Call Divert feature, meanwhile, confirms that no call diversions have been set up for a phone number which a user didn’t intend to be there. An attacker could use call diversions to redirect calls to their own number to intercept communications, and this measure will prevent this from happening. Another feature called Know Your Customer helps businesses confirm someone’s ID by cross-referencing the information with EE’s databases, this check can be used to make sure a phone which has been reported as lost or stolen isn’t being used.
Commenting on the new platform, Christian Thrane, Managing Director of Consumer Marketing at BT said:
The new tools all operate in the background so consumers do not need to do anything to benefit from the changes. Hopefully, they help reduce the instances of fraud, a practice that has adapted itself to the on-going coronavirus situation.
By Abhay V
Elon Musk, Bill Gates, and other prominent Twitter accounts hacked for Bitcoin scam [Update]
by Abhay Venkatesh
Many high-profile Twitter accounts were hacked today to spread a Bitcoin scam. The accounts included those of SpaceX CEO Elon Musk and Microsoft co-founder Bill Gates. The tweets (spotted by TechCrunch) that have now been removed by the users claimed that the individuals were “giving back” or “doubling” the number of Bitcoins sent to the account.
Other accounts such as that of Coinbase, CoinDesk, and Binance were also compromised. According to TechCrunch, the scammer’s website was flagged by Cloudflare as a phishing site but was still accessible when clicked on. At the time of writing, the scammers’ site had already collected up to 2.8 Bitcoins, averaging to about $25,700. A spokesperson for Binance, a cryptocurrency exchange platform provider, told the publication that its security team is investigating the breach. Several other companies that the source reached out to did not respond to a request for comment.
Images: Saagar Enjeti (Twitter) It is currently not clear how the accounts were compromised. A statement by Coindesk added that several of the hacked accounts had multi-factor authentication enabled, suggesting that the breach could have been made possible by a Twitter vulnerability. Additionally, the hackers reportedly took over the accounts completely, even changing the email addresses linked to those accounts, making it difficult to reset the passwords and take back control.
A Twitter spokesperson said that the microblogging website is “looking into” the matter. However, it is advised to be careful of any such messages from prominent Twitter users promising returns on Bitcoin donations.
Update: Twitter Support has posted a statement that reads:
By News Staff
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Research by Microsoft reveals half of U.K. Millennials have lost money to tech scams
by Paul Hill
A new survey from Microsoft has revealed that more than half of Millennials from the United Kingdom have lost money through tech support scams. It found that Millennials were far more likely to be scammed this way than those aged 18 to 23 (Gen Z), those aged 38-53 (Gen X) or those over 54 (Boomers). 56% of Millennials had lost money compared just to 15% of Gen Z, 17% of Gen X, and 11% of Boomers.
Microsoft included those between the ages of 24 and 37 as Millennials and blamed their riskier behaviour as the reason why they were falling victim more often. It blamed the rise on young people downloading music and films illegally and inadvertently clicking on harmful pop-ups that redirect to fraudulent sites.
Microsoft’s research showed that Millennials were more likely to hand over their email in exchange for content, less likely to change their passwords regularly, less likely to apply the latest available updates, and had the highest use of social media. Despite some arguably bad practices, Millennials claimed that they had the highest computer/web expertise with 75% claiming to be experts or advanced and just 25% saying they were intermediate level or beginners.
74% of Gen Z claimed they were experts, 70% of Gen X laid a claim to that title too, while just 57% of Boomers said they were experts. Microsoft said it believes that Gen Z was more careful online due to their relative inexperience, however, it could also be down to the fact that more Gen Z has grown up with technology while it has largely been foisted onto Millennials. While the latter are competent with technology, they may not have picked up the best practices, whereas Gen Z is more likely to be exposed to online safety initiatives now that the technology is more mature.
The study involved 16,048 people from 16 countries around the world. The U.K. was rated as the seventh safest nation in terms of tech support scams while Japan was rated as the safest, and New Zealand the least safe.
Image via Microsoft