RCMP charged two Brampton residents with defrauding Employment and Social Development Canada/Service Canada

RCMP charged two Brampton residents with defrauding Employment and Social Development Canada/Service Canada

Members of the Royal Canadian Mounted Police (RCMP) Toronto West Financial Crime Unit, working on a complaint from Employment and Social Development Canada (ESDC)/Service Canada, have charged two individuals with various offences related to overpayment of Old Age Security (OAS), Guaranteed Income Supplement (GIS) and Canada Pension Plan (CPP) benefits. The investigation began in December 2016 when the RCMP was alerted by ESDC/Service Canada that a fraud had been committed. The police investigation revealed that…

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Cryptocurrency fraud doubled to $1.7m according to Canadian Anti-Fraud Centre

Cryptocurrency fraud doubled to $1.7m according to Canadian Anti-Fraud Centre

According to the Canadian Anti-Fraud Centre, citizens of the great white north have been swindled out of more than $1.7 million via scams connected to cryptocurrencies like bitcoin this year, more than double the amount in 2016. Anti-Fraud Centre says that’s more than five times the amount people lost to these types of scams in 2015, which was roughly $284,000. And as bitcoin becomes more popular with investors, sending the price above $17,000 US mark…

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Pivoting the fraud conversation to IOT devices and the future of hackable technology

Pivoting the fraud conversation to IOT devices and the future of hackable technology

Last week we wrote about the changing technological landscape of fraud. Moreover, we wrote about the necessary conversation that we should be having about defining and interacting with the ecosystem attached to fraud. An interesting thing about technology in the context of this ecosystem is just how malleable and interchangeable the conversations can be. One day we’re discussing the slew of recent data breaches (read our story on Imgur here) with the following day dedicated…

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Canadians responsible for $15 million ICO charged by SEC with violating U.S securities laws and defrauding investors

Canadians responsible for $15 million ICO charged by SEC with violating U.S securities laws and defrauding investors

Two Canadian based organizers of a multimillion dollar ICO have been charged with violating U.S securities laws and defrauding investors, according to a new filing dated Dec. 1. This comes on the heels of the duo landing in hot water early this year with the Quebec Supreme Court. Dominic Lacroix and Sabrina Paradis-Royer, along with a firm called PlexCorp, have been charged with violating U.S. securities laws and defrauding investors, according to a new filing…

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Imgur, one of the internets largest photo-sharing websites, confirms 1.7 million stolen passwords and emails in data breach dating back to 2014

Imgur, one of the internets largest photo-sharing websites, confirms 1.7 million stolen passwords and emails in data breach dating back to 2014

In a continuing trend of major websites admitting to large-scale security breaches, Imgur one of the internet’s largest photo-sharing website, stated that 1.7 million emails addresses and passwords were stolen in a hack dating back to 2014. The company told ZDNet that hackers stole 1.7 million email addresses and passwords, scrambled with the SHA-256 algorithm, which has been passed over in recent years in favor of stronger password scramblers. Imgur said the breach didn’t include…

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McAfee security lab releases new report cites fraud expectations for 2018

McAfee security lab releases new report cites fraud expectations for 2018

In a new report from McAfee security labs released earlier this week, expectations for fraud and scams is looking worse in 2018 for consumers and businesses. In its report, the firm which was spun off by Intel (INTC) in April, expects continued risks from malware authors, phishing attackers, ransomware scams and even, perhaps, the companies selling smart home devices. On a good note, McAfee’s report isn’t calling for a rise in attacks on newer online…

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Equifax breach to be far worse than originally thought for Canadians, 19,000 people affected

Equifax breach to be far worse than originally thought for Canadians, 19,000 people affected

In what was originally reported as 8,000 Canadians who had been affected by the massive Equifax data breach back in September is now understood to be far more and far worse. The 8,000 Canadians affected in the original hack had their personal information compromised in the data breach, but the company couldn’t state how many additional credit cards were impacted across the country. But in an a statement issued Tuesday, Equifax noted that 11,670 of the affected credit…

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Ontario Court Declares Fraud Case Bizarre Pulp Fiction

Ontario Court Declares Fraud Case Bizarre Pulp Fiction

Breaking Fraud Cases from Canadian Courts At Canadian Fraud News, we report on decisions issued by Canadian Courts related to fraud, that are not reported in the main stream media, and that contain legal issues the Canadian public and fraud recovery experts should be aware of. The following is one such story. On November 20, 2017, the Ontario Superior Court released a decision in a civil fraud case in what can only be described as…

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The trial of Omar Kalair the “Muslim Maddoff,” adjourned until next September

The trial of Omar Kalair the “Muslim Maddoff,” adjourned until next September

The opening day of the trial for Omar Kalair, dubbed the “Muslim Madoff” by some of the homeowners who were allegedly left thousands in the hole after buying into the mortgages marketed to Muslims, got underway earlier this month. But in a strange twist in a strange investigation, Kalair unceremoniously fired his lawyer effectively adjourning the trial and pushing it back until Sept. 24, nearly a year away. The Crown made its opening statement on…

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New Aviva reports states an extra $2 billion a year added due to rising insurance cost

New Aviva reports states an extra $2 billion a year added due to rising insurance cost

A new report published by Aviva car insurance puts forth the claim that an extra $2 billion a year in added costs due to rising insurance fraud. The study was conducted by Pollara Strategic Insights, using electronic interviews conducted with citizens from all 10 provinces. Conducted within the month of October, 1,502 people were polled for the study and is considered accurate within plus or minus 2.5 percentage points, 19 times out of 20. One…

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