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Four U.S. Nationals Charged in $80 Million Pig Butchering Crypto Scam

Four U.S. Nationals Charged in $80 Million Pig Butchering Crypto Scam

Dec 18, 2023 Cryptocurrency / Online Scam
Four U.S. nationals have been charged for participating in an illicit scheme that earned them more than $80 million via cryptocurrency investment scams. The defendants – Lu Zhang, 36, of Alhambra, California; Justin Walker, 31, of Cypress, California; Joseph Wong, 32, Rosemead, California; and Hailong Zhu, 40, Naperville, Illinois – have been charged with conspiracy to commit money laundering, concealment money laundering, and international money laundering. The U.S. Department of Justice (DoJ), which announced the arrests of both Zhang and Walker in connection with the fraudulent operation, said the quartet opened shell companies and bank accounts to carry out  pig butchering scams , transferring the ill-gotten funds to domestic and international financial entities. If convicted, Zhang and Walker face a maximum penalty of 20 years in prison. Their alleged co-conspirators remain at large. "The overall fraud scheme in the related pig-butchering syndicate involved at least 284
PayPal Subsidiary Data Breach Hits Up to 1.6 Million Customers

PayPal Subsidiary Data Breach Hits Up to 1.6 Million Customers

Dec 04, 2017
Global e-commerce business PayPal has disclosed a data breach that may have compromised personally identifiable information for roughly 1.6 million customers at a payment processing company PayPal acquired earlier this year. PayPal Holdings Inc. said Friday that a review of its recently acquired company TIO Networks showed evidence of unauthorized access to the company's network, including some confidential parts where the personal information of TIO's customers and customers of TIO billers stored. Acquired by PayPal for US$233 Million in July 2017, TIO Network is a cloud-based multi-channel bill payment processor and receivables management provider that serves the largest telecom, wireless, cable and utility bill issuers in North America. PayPal did not clear when or how the data breach incident took place, neither it revealed details about the types of information being stolen by the hackers, but the company did confirm that its platform and systems were not affecte
6 Ways to Simplify SaaS Identity Governance

6 Ways to Simplify SaaS Identity Governance

Feb 21, 2024SaaS Security / Identity Management
With SaaS applications now making up the vast majority of technology used by employees in most organizations, tasks related to identity governance need to happen across a myriad of individual SaaS apps. This presents a huge challenge for centralized IT teams who are ultimately held responsible for managing and securing app access, but can't possibly become experts in the nuances of the native security settings and access controls for hundreds (or thousands) of apps. And, even if they could, the sheer volume of tasks would easily bury them. Modern IT teams need a way to orchestrate and govern SaaS identity governance by engaging the application owners in the business who are most familiar with how the tool is used, and who needs what type of access.  Nudge Security is a  SaaS security and governance solution  that can help you do just that, with automated workflows to save time and make the process manageable at scale. Read on to learn how it works. 1 . Discover all SaaS apps used b
BHIM App — How to Send & Receive Money with UPI

BHIM App — How to Send & Receive Money with UPI

Jan 03, 2017
After the lack of supply of cash in India following its Prime Minister step to remove high-denomination banknotes from circulation in November 2016, the country is moving a step closer towards becoming a cashless economy with the launch of Unified Payment Interface ( UPI ). Unified Payment Interface ( UPI ) allows all bank account holders to pay money from their smartphones, both online and offline, without the need to enter credit card details, IFSC code, or net banking userID/passwords. All the users need to do is create a Virtual Payment Address (VPA) of their choice, which will act as their financial address, and link it to their bank account. Now in an effort to boost the adoption of Unified Payments Interface (UPI) as a tool for digital transactions, Indian Government has recently launched a new app called, the Bharat Interface for Money ( BHIM ) app . This new digital payments app, which is believed to be a game-changer for cashless payments in India, is currently av
cyber security

NIST Cybersecurity Framework: Your Go-To Cybersecurity Standard is Changing

websiteArmorPointCybersecurity / Risk Management
Find everything you need to know to prepare for NIST CSF 2.0's impending release in this guide.
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