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Retailers demand banks share $476m online fraud hit – 23 August 2018
The head of the National Online Retailers Association (NORA), Paul Greenberg said financial banks need to feel the financial sting from surging online payments fraud, to stop them from passing losses onto merchant victims. With online fraud having leapt to $476 million in the 2017 calendar year, a spike of 14 percent, online payments fraud is now a whopping 85 percent of all payments fraud in Australia. New measures such as Two-factor authentication and rules are outlined.
https://www.itnews.com.au/news/retailers-demand-banks-share-476m-online-fraud-hit-500677
Michael Cohen is reportedly being investigated for over $20 million in bank fraud – 22 August 2018
President Donald Trump’s former personal lawyer Michael Cohen, has pleaded guilty to eight charges including bank fraud, campaign finance fraud from hush money payments and fraudulent loans. Sentencing is scheduled for December 12. Bail has been set at US$500,000.
Manafort found guilty of eight charges – 22 August 2018
Manafort (former Trump Campaign manager) has been found guilty of eight financial crimes such as filing false tax returns, failing to disclose offshore bank accounts and bank fraud. He could spend years in prison. A judge declared a mistrial on 10 other counts the jury could not agree on.
https://www.9news.com.au/world/2018/08/22/06/38/verdict-in-trial-of-ex-trump-aide-manafort
New tech surveillance laws criticised by group representing Facebook, Google and Twitter – 21 August 2018
New laws that could compel global technology companies to assist Australian spy agencies and police, have been strongly criticised by an industry group representing Facebook, Google and Twitter, among others. If passed, the assistance and access bill would introduce expansive new powers, to help law enforcement officers investigate illicit activity online.
