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📢More than 300,000 attempts at identity fraud are blocked by the Australian Register of Stolen Data.

Following the Optus data breach, the Albanese government implemented new identity protection measures that have prevented over 300,000 fraudulent attempts to use credentials that were stolen. The September 2022 data breach exposed the private information of 10 million active and former Optus customers, including vital identity documents like passports and driver's licences. This data breach made it clear that Australia's laws and protections were woefully out of step with the times, even after ten fruitless years of trying to implement digital reform. The government moved quickly to create the Identity Verification Service Credential Protection Register and to pass new laws that would have increased the maximum penalties for serious or persistent privacy breaches. [ Read more ]

• The largest AI-related cryptocurrency in terms of market capitalisation saw a substantial price increase in the last hour, surging by 15% and reaching a multi-week high of $690. However, it has failed to maintain its momentum and is currently trading at approximately $640 (according to CoinGecko's data).

• How AI could revolutionise smartphones.Manufacturers of smartphones Companies like Samsung, Google, and other major device makers are heavily promoting the concept of AI phones.

• Three of the Best Semiconductor Stocks to Buy at This AI Revolutionary Stage. Some of the most significant changes in the tech sector right now are being brought about by the convergence of semiconductor technology and artificial intelligence (AI).

🔔 Card fraud on the rise

The Australian Bureau of Statistics (ABS) recently released statistics estimating that 1.8 million Australians aged 15 and over fell victim to card fraud in 2022–2023.

William Milne, ABS head of crime and justice statistics, said: “The Personal Fraud Survey found that 8.7 per cent of people experienced card fraud in 2022-23. This was an increase from 8.1 per cent in 2021-2022.”

One-third (34 per cent) of card fraud victims had less than $100 fraudulently withdrawn or spent, while for one in six victims (18 per cent) the amount was over $1,000. [ Read more ]

💰Be wary of phoney bills from con artists posing as legitimate companies.

Due to an increase in losses from payment redirection scams, Australians are being advised to confirm payment details directly with a business before paying an email invoice.

Last year, Australians reported losing $16.2 million to payment redirection scams. Despite the total number of reports to Scamwatch decreasing by 28 per cent, the total amount lost increased by 3 per cent, indicating that Australians lost significantly more money per scam last year compared to 2022.

“Scammers are sophisticated criminals and are becoming more targeted in how they exploit Australian consumers and businesses,” ACCC Deputy Chair Catriona Lowe said. [ Read more ]

• Roku, a streaming video service, informed users on Friday that 576,000 of their accounts had been compromised. The discovery of the breach occurred while the company was looking into a much smaller-scale intrusion that it had to deal with in March.

• This week, Apple warned users in 92 countries via email that their devices might have been compromised and that they had been the target of sophisticated "mercenary spyware."

• A "large-scale cyber attack" on the shared servers of several French municipal governments has resulted in the suspension of their services.

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• Bitcoin has rebounded from a significant selloff, which is a sign of potential volatility in various asset markets as investors consider the potential impact of a military escalation in the Middle East. [ Business Standard ]

• An ex-security engineer has been handed a three-year prison sentence in the U.S. for his involvement in hacking two decentralised cryptocurrency exchanges in July 2022. As a result of his actions, he managed to steal a staggering $12.3 million. [ The Hackers News ]

• Shakeeb Ahmed, who stole over $12 million worth of cryptocurrencies, has been sentenced to three years in prison by US District Judge Victor Marrero, as announced by the US Department of Justice (DoJ) on Friday. [FXstreet]

Any news tip ?

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