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📢 Commonwealth Bank Warns Small Businesses of Tax Season Scams

📢 Commonwealth Bank Warns Small Businesses of Tax Season Scams

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This week, there's a glitch :

🔥 Singapore delegation a show of strenght against scammers
📢 Commonwealth Bank Warns Small Businesses of Tax Season Scams
💵 Virtual Kidnapping Scams: A Growing Concern

🔥Singapore delegation a show of strenght against scammers

This week the Assistant Treasurer Stephen Jones will lead a delegation to Singapore to strengthen collaboration on our scammer crack down across the region.

The delegation includes representatives from the National Anti Scam Centre, the Australian Banking Association, the Australian Financial Crimes Exchange, the Customer Owned Banking Association, and Australian banks. The group will be joined by representatives from the Government of New Zealand and will meet with their Singaporean counterparts and leading business executives working on scam prevention.

The focus of the trip will be a mutual fact-sharing exchange between Australia, New Zealand and Singapore on:

scam trends and insights;
Australian anti-scam technology innovation;
Singapore’s strategies to disrupt scams from social media and search engines; and
regulatory and industry approaches to addressing scams, including anti-scams mandatory codes.

The Albanese Government is implementing a world-leading anti-scam plan to protect Australians, and it is showing positive early signs of success with scam losses decreasing for the first time since 2016.

While this shows we have the right approach, scam losses remain far too high and there is still more to do.

Scammers are malicious criminals often run through organised crime gangs in various parts of the world. A cross-jurisdictional approach is vital to keeping people's money safe.

The delegation comes after the Assistant Treasurer attended the Global Fraud Summit in London in March this year. Ministers from eleven countries, including Australia, New Zealand, and Singapore, committed their governments to collaborate on anti-scam work to grow our capabilities.

Guangdong province, south China's economic powerhouse, has unveiled 45 AI measures to boost its use across many sectors to drive hi-tech growth.
California has introduced dozens of measures to regulate AI this year, covering many controversial issues. Concerns about privacy, bias, nonconsensual pornography generation, and errant AI causing catastrophic events arise when we integrate AI into critical systems like our defence architecture.
The blockchain intelligence firm Elliptic's report “AI-enabled crime in the cryptoasset ecosystem” highlights AI's growing role in cryptocurrency crime.
Ming-Chi Kuo expects Apple to unveil major AI improvements at its WWDC keynote that require the iPhone 16, but they may take time to roll out.

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📢Commonwealth Bank Warns Small Businesses of Tax Season Scams

Commonwealth Bank warns small businesses to be extra vigilant this tax season as sophisticated scammers steal hardworking Australians' tax returns. With the end of the financial year approaching, scammers and cyber criminals use phishing to steal log in credentials and redirect tax return payments to their bank accounts. Bec Warren, Executive General Manager Small Business Banking at Commonwealth Bank, said member portal scams increase 400% around this time of year. [Read more ]

💵 Virtual Kidnapping Scams: A Growing Concern

person wearing silver ring and silver ring

Police are warning about a wave of virtual kidnapping scams that have frightened families and caused financial hardship. Scammers take photos of tied-up victims to manipulate them into participating, police say. Photos are used to extort money from parents for their safety and release. Police say some students coerced into the scam paid criminals over $100,000. The images are horrifying, showing students bound by rope at the hands and fed on a floor. [ Read more]

Information has surfaced regarding a new serious security vulnerability affecting PHP that, in some cases, could be used to accomplish remote code execution.
Through the infamous image board, a 4chan user claims to have leaked 270GB of internal New York Times data, including source code and other web assets.
In an apparent attempt to blackmail victims, an unidentified user going by the handle "Gitloker" is grabbing and erasing repositories on GitHub.

💡How To Protect Your Cash From These Common Scams in 2024

By Jordan Rosenfeld

a couple of people that are sitting in a car

Scammers are always looking to take your money and personal information, regardless of the time of day. The daily emergence of new tools like artificial intelligence makes it more difficult to spot scams.The majority of the most recent scams that are going around in 2024 have their origins in earlier con games, but the con artists have modified them enough to fool gullible customers. Find out more about these increasingly prevalent con games and how to avoid falling victim to them. [Read more]

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Protocol Theory, in collaboration with New Zealand's largest cryptocurrency exchange Easy Crypto, found that Kiwis are increasingly interested in cryptocurrencies as an alternative to home ownership and financial freedom.
Seven of 10 Korean cryptocurrency exchanges fail to return investors' money when they close or suspend operations, financial authorities said Friday.
Bitcoin Magazine CEO and Trump campaign cryptocurrency aide David Bailey announced that Former President Donald Trump will attend a Presidential Roundtable on domestic bitcoin mining as part of its new cryptocurrency-friendly policy.

🏮Remote Access Trojans: AFP Warns of Online Surveillance Threat

Following a recent spike in criminal attempts to steal and take control of victims' personal data by tricking them into downloading malicious malware known as RATs (Remote Access Trojans), the AFP is cautioning internet users to take precautions when using the internet. RATs are a kind of malicious malware that sneakily gains unauthorised access to a victim's electronic device in order to collect private data and spy on them without their knowledge or consent. [Read more]

Any news tip ?

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