A gang of fraudsters have reportedly stolen $19 million (approx. Rs. 132 crores) worth of iPhones over the past seven years in the United States of America. The FBI and NYPD aptly named the gang ‘Fraud Ring’, which was run by six people that called themselves ‘Top Dogs’. The gangs used counterfeit debit cards and fake IDs to buy new iPhones to be sold for high prices in the black market.
The payment method that involved instalments enabled the scam to go undetected. A detailed report has been uploaded online regarding the fraud case. The victims of the scam included customers whose accounts were compromised along with respective carriers. The [...]
DJI, a drone manufacturing company recently uncovered an employee fraud that could very well have cost the organization $150 Million. The company released a statement that said that DJI holds their employees to strict ethical standards and takes any violation of their code of conduct very seriously.Statement By DJI
During a recent investigation, DJI found out that some employees inflated the cost of parts and materials for certain products. They, according to DJI, pocketed the profits themselves. The company estimates the damages to be around RMB 1 billion which is around $150 Million. DJI, to address this issue, dismissed a number of employees who violated company [...]
TIDAL is a subscription-based music streaming service owned by popular rapper, Jay-Z. The streaming service has come under serious scrutiny over misconduct, allegedly inflating streaming numbers of albums by multiple artists. A new report by Norwegian news outlet, Dagens Næringsliv has accused the streaming service after a year-long investigation.
Dagens Næringsliv worked closely with music research firm Midia and the Norwegian University of Science and Technology’s Center for Cyber and Information Security (CCIS) to validate the accusations. The albums in question here, are Kanye West’s The Life of Pablo and Beyoncé’s Lemonade. Apparently, the reporters from Dagens Næringsliv [...]
Huawei’s recent launch of the new P9 put a lot of attention on the brand, with claims that the smartphone camera can match DSLR quality shots.
This image recently posted by Huawei on its Facebook page, promoting the P9. Even though Huawei never directly claimed it was clicked with the P9. The caption read :
The #HuaweiP9’s dual Leica cameras makes taking photos in low light conditions like this a pleasure.
The EXIF data, however, spoke another story altogether. The photo was actually shot with a Canon 5D III using a 70-200 F2.8 L series lens. This reminds us of the bad marketing Nokia did with the Lumia 920 back in 2012.
Using DSLR images [...]
Dr.Dre, Jimmy Lovine celebrated publicly on the acquisition of their audio company, Beats by Apple for a sum of $3 Billion. Beats has grown strong since its inception and with massive celebrity endorsements, these expensive (some may consider overpriced) headphones have been selling like hot cakes. Beats now commands over half of US headphone market worth $1 Billion. But now the company has run into legal troubles with Monster, which originally created the technology behind the Beats headphones.
Monster has been in the audio business since Noel Lee, an engineer and self professed audiophile founded the company in 1979. [...]
Over the past 6 months, various companies including Apple, Samsung and Micromax went on an aggressive marketing drive that was based around the “0% EMI” tagline. Consumers, young and old alike, were attracted by the possibility of buying the device of their choice, by paying small amounts of money over a prolonged period of time. That too without any overhead costs. Who wouldn’t?
So when the RBI on Wednesday banned zero per cent interest rate EMI schemes for purchase of consumer goods, it came as a shock for many people.
What would possibly have been wrong? The [...]
Police have foiled a plot to steal millions of pounds after a gang allegedly took control of a bank’s computer remotely.
Scotland Yard described the cyber-attack on a Santander branch in Surrey Quays shopping centre, south-east London, as the most sophisticated case of its kind that police had encountered.
The hackers were hoping to use highly sensitive information displayed on the computer to access accounts and drain money from them, but the Hollywood-style cyber heist was foiled.
The men allegedly fitted a computer within the branch in [...]
Up to 750 million mobile phones around the world carry SIM cards that contain a programming flaw that could leave their owners vulnerable to fraud. The bug allows a hacker to remotely access personal data and authorise illegal transactions within minutes.
The flaw in question is found in SIM cards using DES (Data Encryption Standard) for encryption, which is an older standard that is slowly being phased out by most manufacturers, but the point is that it is still baked into hundreds of millions of SIMs across the world. The founder of German firm, Security Research Labs, Karsten Nohl, found that sending a fake carrier [...]