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☆ Security is one of the top challenges companies face today. This expert hacker is helping them identify potential threats.
▼ + stars: | 2022-12-12 | by ( Sponsor Post | Created Insider Studios With Ibm | ) www.businessinsider.com time to read: +5 min

Stephanie Carruthers is the Chief People Hacker at IBM Security's X-Force Red team of 200 hackers worldwide. Today, she's finding new ways to identify threats at a time when the security landscape has become increasingly complex. Carruthers is the Chief People Hacker at IBM Security's X-Force Red team of 200 hackers worldwide. She and her team show companies their vulnerabilities so they can better protect themselves. Carruthers and her team then use that data to educate companies and users on what they shouldn't be posting — and why.

☆ Send Sam Bankman-Fried to prison, Elon Musk suggests, while Binance's boss calls him a 'master manipulator'. 8 top figures weigh in on the disgraced FTX founder.
▼ + stars: | 2022-12-10 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +5 min

FTX founder Sam Bankman-Fried is racking up critics after the implosion of his crypto exchange. Here's what top voices like Elon Musk, Bill Ackman and Binance boss CZ have said, in 8 top quotes. Now the crypto CEO is under fire from all sides, from Elon Musk and Bill Ackman to "Shark Tank" investor Mark Cuban. Given that, the crypto exchange boss said he feels like the mainstream media has given Bankman-Fried softball interviews. The crypto bull believes Bankman-Fried will probably end up in jail, but doesn't think he was acting alone.

☆ Binance's CEO tried to warn Sam Bankman-Fried: 'The more damage you do now, the more jail time.'
▼ + stars: | 2022-12-09 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +3 min

Binance's CEO got alarmed by Sam Bankman-Fried's crypto trading moves as FTX collapsed, per the NYT. The more damage you do now, the more jail time," Zhao wrote in a group chat. "Stop now, don't cause more damage," Zhao wrote in a group chat with Bankman-Fried and other crypto executives. The Binance boss pointed to a $250,000 trade by Alameda that he believed was orchestrated by Bankman-Fried to depeg Tether. Meanwhile, Bankman-Fried is reportedly now being investigated over allegations that Bankman-Fried manipulated the market for two cryptocurrencies in the spring.

☆ These 7 states face the highest risk of identify theft and fraud
▼ + stars: | 2022-12-08 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +2 min

Online fraud cases, including identity theft, have hit all-time highs in recent years — which means you're likely more at risk than ever of having your personal information targeted by hackers or other bad actors. Consumers filed more than 5.7 million fraud reports with the Federal Trade Commission last year, including nearly 1.4 million reports of identity theft. Online fraudsters can seek you out anywhere, but identity theft and fraud are more prevalent in some states than others. Here are the country's seven most vulnerable places for identity theft and fraud, according to the report:Washington D.C. Delaware Louisiana Rhode Island Colorado Pennsylvania GeorgiaWashington D.C. tops the list as the place with the most online fraud and identity theft. The rankings give the most weight to the number of identity theft and fraud complaints per capita, as well as the average losses for the victims of those complaints.

☆ Coinbase CEO slams Sam Bankman-Fried: 'This guy just committed a $10 billion fraud, and why is he getting treated with kid gloves?'
▼ + stars: | 2022-12-08 | by ( Britney Nguyen | ) www.businessinsider.com time to read: +4 min

The CEO of Coinbase said that it's "bizarre" Sam Bankman-Fried is "getting treated with kid gloves." "I mean, this guy just committed a $10 billion fraud, and why is he getting treated with kid gloves?" "We appreciate that you've been candid in your discussions about what happened at #FTX," Waters tweeted. Criminal Activity!," Waters tweeted. He's not the only crypto CEO who's criticized the former FTX CEO recently.

☆ 'It appears massive fraud was committed': Here are the 7 best quotes from Coinbase CEO Brian Armstrong's interview on crypto, FTX, and the future of digital assets.
▼ + stars: | 2022-12-08 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

The implosion of FTX shook the crypto industry to its core in recent weeks as token prices continue to fall. CEO Brian Armstrong gave an interview to the Stratechery newsletter, and these are the best quotes. CEO Brian Armstrong spoke with the Stratechery newsletter on Thursday, addressing the future of crypto as well as the implosion of FTX and its impact going forward. On the prevalent fraud in crypto"I do think we have to admit as an industry that crypto has attracted more fraudsters than we'd like. On the future of crypto"There are enough great people working in crypto that I think this industry is going to do really well.

☆ An independent study shows Binance has enough reserves to pay out all customers holding bitcoin
▼ + stars: | 2022-12-07 | by ( Phil Rosen | ) www.businessinsider.com time to read: +2 min

A proof of reserves report revealed Binance's bitcoin reserves have enough collateral, according to Mazars. The accounting firm conducted the review after being tapped by Binance last week. Since the implosion of Sam Bankman-Fried's FTX, crypto companies have fallen under increased scrutiny, and face pressure for more disclosure on their balance sheets. Binance, which is the world's largest crypto exchange by trading volume, had vowed to conduct a proof of reserves, as have several other exchanges. Binance CEO Changpeng Zhao has said it would foster "full transparency" between exchanges and their clients.

☆ FTX's Sam Bankman-Fried is 'one of the greatest fraudsters in history' and a 'master manipulator,' Binance CEO says
▼ + stars: | 2022-12-07 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +3 min

Binance's CEO says FTX founder Sam Bankman-Fried is "one of the greatest fraudsters in history." "FTX killed themselves (and their users) because they stole billions of dollars of user funds," the CEO said. Bankman-Fried chalks up FTX's collapse to accounting errors and denied allegations of the misuse of customer funds. "SBF is one of the greatest fraudsters in history, he is also a master manipulator when it comes to media and key opinion leaders." Bankman-Fried chalks up FTX's collapse to accounting errors and maintains he never intentionally misused funds or defrauded anyone.

☆ More Cases, Policy Changes Are on the Horizon, DOJ’s New Fraud Section Chief Says
▼ + stars: | 2022-11-30 | by ( Dylan Tokar | ) www.wsj.com time to read: +4 min

The fraud section has at least two bribery-related settlements with corporations that it plans to finalize in the coming weeks, Mr. Leon said. Justice Department settlements typically require companies to undertake compliance reforms over a set period of time. A company’s chief executive and chief compliance officer will be required to sign at the end of that period the certification document, stating that the company’s compliance program is “reasonably designed to prevent and detect” future violations. A veteran of the fraud section, Mr. Leon previously served as a supervisor in its securities fraud unit beginning in 2011 and then briefly as its deputy chief before departing in early 2014. More policy changes are on the horizon, Mr. Leon said, including an update to the fraud section’s FCPA corporate enforcement policy.

☆ Cyberthieves stole $186,000 from a Republican member of Congress as fraud epidemic plagues political committees
▼ + stars: | 2022-11-29 | by ( Dave Levinthal | ) www.businessinsider.com time to read: +6 min

Cyberthieves stole more than $186,000 from Rep. Diana Harshbarger's campaign committee, federal records show. But others haven't been so lucky as a theft epidemic strikes political committees. The 2020 presidential campaign of now-President Joe Biden is among various political committees to experience theft during the past several years. More recently, the American Hospital Association's political action committee and Kanye West's 2020 presidential campaign committee have fallen victim to financial fraudsters. Requiring campaign vendors to "meet or exceed the same security standards" as the campaign committee itself.

☆ Microsoft's latest data on hacks and why you may need new login, passwords fast
▼ + stars: | 2022-11-21 | by ( Cheryl Winokur Munk | ) www.cnbc.com time to read: +7 min

That's a 74% rise in one year, according to the latest Microsoft Digital Defense Report. But many people still rely on passwords, and don't even use the two-factor authentication now considered critical. "As long as passwords are still part of the equation, they're vulnerable," Joy Chik, Microsoft's vice president of identity, wrote in a September 2021 company blog post. Based on a sample of more than 39 million IoT and OT devices, about 20% used identical usernames and passwords, according to the Microsoft report. Even if a provider doesn't require it to be used, multi-factor authentication is a valuable security tool that's underutilized, according to security professionals.

Hi, I'm Matt Turner, the editor in chief of business at Insider. On the agenda today:But up first: Each year, Insider surfaces 100 leaders across 10 industries who are driving unprecedented change and innovation. Ashley Davis from our special projects team is here to take us behind the scenes of this year's list. InsiderIn the past 12 months, business leaders have faced inflation, a polarized political climate, persistent supply-chain issues, the Great Resignation, a real-estate boom, and more. Our editors carefully selected the power players, activists, and pioneers who are shaping the future.

☆ Warren Buffett's right-hand man blasted crypto, praised Elon Musk and Tesla, and defended the Fed in a rare interview this week. Here are the 14 best quotes.
▼ + stars: | 2022-11-19 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +5 min

Charlie Munger called out fraud and delusion in crypto, days after Sam Bankman-Fried's FTX imploded. Warren Buffett's right-hand man said bitcoin and other crypto should never have been legal. He made the incendiary comments in a rare CNBC interview this week, just days after Sam Bankman-Fried's FTX exchange became the latest crypto player to implode. "It's partly fraud and partly delusion — that's a bad combination. I think that's totally crazy.

A California couple who fled the country after being convicted in a multimillion-dollar Covid relief scam have been extradited from Montenegro, the Justice Department said Friday. They are expected to appear at the U.S. District Court in Los Angeles on Friday afternoon. They were among eight members of a California crime ring convicted of stealing more than $18 million in Covid relief loans. Following their conviction in June 2021, the couple cut off their ankle monitoring bracelets and fled their home, leaving behind their three children. It wasn’t immediately clear what led to the couple’s extradition, but the Justice Department said in a press release that the government of Montenegro provided significant assistance.

☆ FTX flop evokes history’s great financial swindles
▼ + stars: | 2022-11-18 | by ( Edward Chancellor | ) www.reuters.com time to read: +7 min

As Walter Bagehot wrote in “Lombard Street” in 1873, “The good times too of high price almost always engender much fraud. As cryptocurrencies declined in value, FTX provided a line of credit to BlockFi, a stricken crypto-lender. He talked about Three Arrows Capital, the failed crypto hedge fund, as engaged in “punting”. His firm launched a product based on a basket of crypto assets that it called Shitcoin Index Perpetual Futures, with the unsubtle ticker SHIT-PERP. He commissioned an advertisement, aired during the Super Bowl, in which the comedian Larry David casts doubt on the viability of FTX.

ID.me said it was reviewing the panels' findings and did not have immediate comment. Congress began investigating ID.me after former ID.me employees, government watchdog groups and lawmakers complained the company had been unprepared to handle an onslaught of unemployment insurance applications early in the pandemic. While Reuters and other media last year reported on the waits, investigators said their analysis definitively showed that issues had been widespread. The Democrat-led committees are continuing to investigate other concerns about ID.me, including the accuracy of its facial recognition system and the adequacy of its support for non-English speakers. Reporting by Paresh Dave; Editing by Bradley Perrett and Lisa ShumakerOur Standards: The Thomson Reuters Trust Principles.

ID.me responded that calling its fraud estimate baseless or too high was premature because government auditing was ongoing. Congress began investigating ID.me after former ID.me employees, government watchdog groups and lawmakers complained the company had been unprepared to handle an onslaught of unemployment insurance applications early in the pandemic. While Reuters and other media last year reported on the waits, investigators said their analysis definitively showed that issues had been widespread. ID.me said it regretted the long waits but described them as "short-lived and temporary and caused by historic fraud." The Democrat-led committees are continuing to investigate other concerns about ID.me, including the accuracy of its facial recognition system and the adequacy of its support for non-English speakers.

☆ Battle over the iPhone app store spills into appeals court
▼ + stars: | 2022-11-15 | by ( Associated Press | ) www.nbcnews.com time to read: +3 min

The 75-minute session was a prelude to an expected ruling by the appeals court, likely to be issued sometime next year. A so-called “walled garden” protecting the iPhone app store includes a payment system that funnels Apple commission revenue ranging from 15% to 30% on the purchases of some subscriptions and other digital services through its storefront. “The only thing that is kept out by Apple’s walled garden is competitors,” Goldstein said. Apple lawyer Mark Perry defended that walled garden as an indispensable feature prized by consumers who want the best protection available for their personal information. “I am too lazy to switch,” McShane said.

☆ High-performance computing saves the day
▼ + stars: | 2022-11-14 | by ( Sponsor Post | Sponsored Microsoft Azure | ) www.businessinsider.com time to read: +4 min

Whether there's a cyberattack or a heart attack, Microsoft Azure's high-performance computing solutions and Intel's processing speed empower Dataville's citizens to thwart danger, protect themselves, and innovate to create a better city. Dataville makes sustainable changesWhen Dataville senses that one unscrupulous factory in town is polluting the air, it's able to act quickly. Dataville provides better healthcareWhen Dataville citizens have a health crisis, healthcare providers can save the day. See how Microsoft Azure and Intel can give you superpowers. This post was created by Insider Studios with Microsoft Azure and Intel.

☆ Crypto is becoming a new vector for fraudsters, says Consumer Financial Protection Bureau's Rohit Chopra
▼ + stars: | 2022-11-14 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCrypto is becoming a new vector for fraudsters, says Consumer Financial Protection Bureau's Rohit ChopraRohit Chopra, director of the Consumer Financial Protection Bureau, joins 'TechCheck' to discuss crypto regulation, the increase in crypto scams and the fate of stable coins.

☆ If you want to land a job or get a raise in the tech industry, you have to past a test — and pretty much everyone is cheating on the exams
▼ + stars: | 2022-11-14 | by ( Rob Price | ) www.businessinsider.com time to read: +18 min

It was one in a long line of tech certifications that Bill freely acknowledges he earned, at least in part, by cheating. And he's far from alone: In the tech industry, it's an open secret that there are thousands, if not millions, of cheaters just like Bill. The rise of exam dumps for tech certifications could have devastating consequences. But the cheating is clearly having a corrosive effect on the tech industry, particularly the hiring process. But the perception that workers from poorer countries are more likely to be cheaters can also fuel racism against foreign-born tech workers.

San Francisco-based Twitter did not immediately respond to a request for comment on the security situation at the company. He echoed a pessimistic view among some Twitter users this week: The service might go down entirely under Musk's ownership. Verification serviceOn Friday, Twitter paused the rollout of its Twitter Blue verification service, intended to let users pay $8 a month for a verification badge. “The debacle with the Twitter verification is a really strong indicator as to what can go wrong,” Roger said. “When the verified Twitter users got hacked a few months ago, it was only a bitcoin scam, right?” Rogers said.

☆ 'Sirens should go off': How to avoid getting duped by Medicare scammers during open enrollment
▼ + stars: | 2022-11-09 | by ( Sarah O'Brien | ) www.cnbc.com time to read: +1 min

You may know that it's open enrollment time for Medicare. The Federal Trade Commission is warning that fraudsters could take advantage of this annual period to impersonate Medicare agents. More from Personal Finance:What to know if dropping Medicare Advantage PlanHow investors can tackle the fear of missing outOp-ed: Don’t reject the 60/40 portfolio. Embrace it"If someone asks for your Medicare identification number, sirens should go off," said Ari Parker, a senior advisor at Chapter, a Medicare advisory firm. During open enrollment, beneficiaries are encouraged by the Centers for Medicare & Medicaid Services to review their current coverage and make sure it will still be the best fit for them in the next year.

☆ 2 top investors identify fintech trends flying under the radar
▼ + stars: | 2022-11-07 | by ( Asia Martin | ) www.businessinsider.com time to read: +4 min

Payments and lending are receiving a lot of hype from venture capitalists, but two investors say that needs to change. That's lagging well behind 2021, which saw more than $46 billion raised by US fintechs at this point last year. Kemp and Russ told Insider the top areas they feel have flown under the radar within fintech. B2B PaymentsThe direct-to-consumer space has become digitized and somewhat commoditized, Kemp told Insider. Financial education, equity and accessVenture capital is overlooking a lot of companies doing interesting things around financial education, financial equity, and giving underserved populations access to much-needed financial tools, Russ told Insider.

Fraudsters will try to get your personal information and answers to security questions on social media. "The reason fraudsters are so interested in social media and social engineering is because they can get answers to those questions." Insider's Featured Identity Theft Protection Services Aura – All-In-One ID Theft ProtectionIDShield 3 Bureau Individual PlanIdentityForce Ultra Secure+Credit Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. Editor's Rating 4.6/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Editor's Rating 4.7/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Editor's Rating 4.8/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Learn more On Aura's website Learn more On IDShield's website Learn more On IdentityForce's websiteHere are five tips to help you avoid identity theft scams on social media. Anytime anyone's asking for personal information, find a different way of getting in contact with that individual," says Lord.

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