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The UK cities where you're MOST likely to get hacked

Daily Mail - Science & tech

Young people living in London and Birmingham are most likely to be cyber-scammed in the UK, according to a new report. Twenty three per cent of people living in these two cities have been affected by at least one scam in the last three years. Bristol came in third place with 19 per cent of people being victims to cyber scams while Liverpool is a hotspot for impersonation scams. According to Barclays' UK Digital Safety Index survey one in four people have been victims of cyber-fraud or scams in the past three years. Eighteen to 25-year-olds are twice as likely to be tricked than the over 65s which puts to bed the notion that older people are more at risk of being'duped' by cyber criminals.


Almost £1bn lost to fraud in 2017 – UK Finance

#artificialintelligence

Unauthorised frauds accounted for £731.8m, The UK Finance research found there were 1,910,490 reported cases of unauthorised financial fraud last year, a 3% rise on 2016 figures. Unauthorised fraud losses on payment cards fell 8% year-on-year to £566m, with the industry helping to prevent £984.9m in attempted card fraud. Cheque fraud fell 28% to £9.8m, the lowest annual total on record, with £213.3m of fraud prevented. However, losses due to remote banking fraud rose 14% to £156.1m, despite banks preventing 27% more, or £261.4m of such attempts.


Osaka cops form special task force to combat spike in fraud

The Japan Times

OSAKA – The Osaka Prefectural Police have set up a 140-strong emergency team to combat the proliferation of fraud cases. Detected frauds stood at 1,347 at the end of October, and fraud damage in Osaka this year is estimated at ¥4.48 billion. Both have already broken last year's totals, which were the worst on record, according to the prefectural police and the National Police Agency. In particular, Osaka led all other prefectures in terms of fraudulently stolen money in the first half. Leading the way are the "Ore-ore" ("It's me") scams, in which perpetrators mainly target gullible seniors by passing themselves off over the phone as relatives or friends who are in some kind of jam and need emergency money.


Role of Artificial Intelligence in Financial Fraud Detection

#artificialintelligence

Until a few years ago Artificial Intelligence seemed like a thing from sci-fi movies. The whole concept seemed like fiction or a far fetched dream fed by wishful thinking. Then came personal assistants like Siri, Google Assistant, Bixby, Alexa and Cortana, which made the people realise that they could have something like a Jarvis in their homes as well. However, these are just known as weak AIs. Strong AIs are theoretically able to work with human cognitive abilities.


Cybercrime in China: Online Fraud

Forbes - Tech

When it comes to cybercrime in China, many outside observers might focus on the hacking of websites or stored data in the U.S. and other Western countries. Several cases in recent years have focused on possible compromises of personal information or trade secrets housed on U.S. sites or belonging to U.S. industry. More recently, a publicized password vulnerability in Internet of Things devices (closed circuit cameras) made by a Chinese manufacturer appears to have led a DDOS attack on the Internet infrastructure company Dyn. If a Chinese citizen (particularly an urbanite who grew up in the 1990s and 2000s) is asked about cybercrime, the response is likely to be online fraud. Online fraud has been a growing phenomenon in China in recent years, but a public uproar arose from a report last year about a telephone fraud directed against an incoming college student, Xu Yuyu (news account here).