Fraud Ring In Hacking Attack On 60 Banks

Sixty million euro has been stolen from bank accounts in a massive cyber bank raid after fraudsters raided dozens of financial institutions around the world. According to a joint report by software security firm McAfee and Guardian Analytics, more than 60 firms have suffered from what it has called an "insider level of understanding". "The fraudsters' objective in these attacks is to siphon large amounts from high balance accounts, hence the name chosen for this research - Operation High Roller," the report said. "If all of the attempted fraud...

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Asil Nadir arrives at the Old Bailey with his wife Nur to face 66 charges of theft and fraud.

 Photograph: Nicholas RazzellPolly Peck tycoon Asil Nadir fled Britain because he was a broken man with no hope of a fair trial over allegations that he stole nearly £150m from the collapsed firm, the Old Bailey heard .Nineteen years after he left for Northern Cyprus, the 71-year-old broke his silence as he took the stand in his fraud trial.Nadir told the jury he left Britain on 4 May 1993 after his mental health collapsed, he was...

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Pensions consultancy reports huge increase in pension scheme fraud

The annual report, from consultants Baker Tilly, recorded a 55% increase in pension schemes reporting fraudulent activity. Of the survey respondents 19% said they had experienced cases of fraud, compared to 12% of respondents in 2011. “Awareness of the issue may be rising against a backdrop of more pension frauds hitting the headlines, including high-profile investigations involving illegal cash transfers, false schemes, money laundering and bribery allegations,” it said. The accuracy of member data was considered the most vulnerable area for fraud...

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Three senior businessmen who cooked up an elaborate scheme to siphon almost £9 million from Sainsbury’s in a corrupt potato deal, were jailed today.

John Maylam, right, entered into a corrupt deal with David Baxter, left, operations director at Greenvale, which supplies half of Sainsbury's potatoes Photo: TONY PALMER John Maylam, 44, a senior buyer for the supermarket chain, accepted almost £5 million in bribes from a supplier, which he “frivolously” spent on lavish holidays to Monaco and the South of France, a top of the range Aston Martin and in luxury hotels such as Claridge's.He...

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