Fraud

H-Online: UK regulator PhonepayPlus (fomerly known ICSTIS) has imposed a fine of £50,000 on a payment provider used for an Android malware-based fraud and forced it to reimburse customers’ losses. Last December, unknown perpetrators posted fake versions of popular applications on Google’s Play store (formerly the Android Market) which sent out expensive premium rate text messages. According to Android virus experts Lookout, the applications in question were based on the RuFraud malware and were customized to disguise themselves as 30-plus titles such as Angry Birds, Assassins Creed and Cut the Rope. These apps were downloaded an estimated 14,000 times, and sent out three premium rate text messages, costing £5 each, every time the user tried to open the app. Total losses to customers in the UK were estimated at £27,850. ...

Mashable: Lonely hearts seeking love this Valentine’s Day, be wary. Online dating fraud rose by 150% percent in 2011 as scammers and hucksters turned up the false charm and predatory trolling. That’s according to data shared with Mashable by fraud protection agency Iovation, which works with several major Internet dating services. Iovation reached that number by employing patented technology that analyzes hardware and software, rather than mine for personal information, says Molly O’Hearn, vice president of operations. ...