Tag - Fraud
Police in Oregon have intercepted deliveries in an organized crime ring involving iPhones, one valued at an estimated $750,000. An investigation into fraudulent gift cards started earlier this month led to the seizure of the iPhone collection, which if left interrupted, would have ended up being shipped to Hong Kong and distributed to buyers and sellers on the black market.
Over 5,000 fraudulent apps currently available for iOS and Android are displaying ads users cannot see, but which are causing problems, using up cellular data, and costing advertisers around $850 million per year, says online fraud research company Forensiq in a new report. The ads are not visible on screen, yet the volume of them contributes to an overal slowing down of iPhone or Android devices while stealing data from often-limited cellular data plans.
In the wake of erroneous reports in the mainstream media that Apple Pay was in some fashion vulnerable, compared to our more accurate analysis of the issue, they at least got one point right -- many banks had light security on Apple Pay card account establishment. Over the course of the week, and in light of the negative publicity, this appears to be changing. Reports are coming in that some of the more vulnerable banks are tightening up Apple Pay account establishment, with multiple identification steps required, where there may have previously only been one, poorly-secured, method of adding credit cards.
The security built into Apple Pay is so resistant to tampering, reports the UK newpaper The Guardian, that criminals are focusing more than ever on traditional bank weaknesses surrounding common fraud and identity theft techniques, exploiting the lax identity requirements some banks employ for users who are adding credit cards to Passbook, which stores the data so that Apple Pay can later utilize it. So far, the fraud has racked up millions of dollars from stolen credit cards added to Apple Pay.
Intuit, the company behind TurboTax, announced today that it has temporarily stopped the processing of state tax returns, in light of an increasing concerns over fraudulent filings. As of February 5, TurboTax has paused state filings, and Intuit hopes to resume transmitting state filings today. The company is working with state governments to clear up the mystery of the fraudulently-filed returns and allow filing to resume.
After years of corporate fraud carried out by high-level executives in its parent company Moneual, there was concern that computer cooler manufacturer Zalman Tech could go under. However, it appears that the company will undergo several changes in order to live on, as indicated by statement released from the company today.
For PC enthusiasts, Zalman Tech Co. is a household name for cooling components, but it now looks like the name could fade into obscurity. The South Korean company filed for bankruptcy protection in the Seoul Central District Court on November 3, after it was discovered that top-level executives in its parent company Moneual engaged in corporate fraud.
Former bosses at Olympus have avoided going to prison over the $1.7 billion accounting fraud scandal. Tsuyoshi Kikukawa, a previous chairman at the camera company, and auditing officer Hideo Yamada received three year sentences that are suspended for five years, while executive vice president Hisashi Mori was handed sentence for two and a half years, suspended for three.
A 29-year-old New York man and his girlfriend will serve up to 12 years in prison for creating and running a credit-card fraud ring that resulting in the illicit purchase of more than a million dollars in Apple merchandise, victimizing Apple retail stores from coast to coast. The "S3" group, which eventually grew to include 27 people, created fake credit cards based on stolen card numbers, then bought Apple gear and resold them.
Olympus ex-CEO Olympus Michael Woodford has agreed to a settlement with his former employer. An employment tribunal due to run in London this week would have seen Woodford asking for 10 years pay as compensation for being fired from the camera maker, after he emerged as a whistle blower on $1.7 billion in fraudulent accounting practices over a 20-year period. According to Reuters, the undisclosed settlement is expected to be less than the $60 million originally believed to be requested.
Now AAPL Stock: 106.94 ( -0.63 )
Cirrus creates Lightning-headphone dev kit
Apple supplier Cirrus Logic has introduced a MFi-compliant new development kit for companies interested in using Cirrus' chips to create Lightning-based headphones, which -- regardless of whether rumors about Apple dropping the analog headphone jack in its iPhone this fall -- can offer advantages to music-loving iOS device users. The kit mentions some of the advantages of an all-digital headset or headphone connector, including higher-bitrate support, a more customizable experience, and support for power and data transfer into headphone hardware. Several companies already make Lightning headphones, and Apple has supported the concept since June 2014. http://bit.ly/29giiZj
Apple Store app offers Procreate Pocket
The Apple Store app for iPhone, which periodically rewards users with free app gifts, is now offering the iPhone "Pocket" version of drawing app Procreate for those who have the free Apple Store app until July 28. Users who have redeemed the offer by navigating to the "Stores" tab of the app and swiping past the "iPhone Upgrade Program" banner to the "Procreate" banner have noted that only the limited Pocket (iPhone) version of the app is available free, even if the Apple Store app is installed and the offer redeemed on an iPad. The Pocket version currently sells for $3 on the iOS App Store. [32.4MB]
Porsche adds CarPlay to 2017 Panamera
Porsche has added a fifth model of vehicle to its CarPlay-supported lineup, announcing that the 2017 Panamera -- which will arrive in the US in January -- will include Apple's infotainment technology, and be seen on a giant 12.3-inch touchscreen as part of an all-new Porsche Communication Management system. The luxury sedan starts at $99,900 for the 4S model, and scales up to the Panamera Turbo, which sells for $146,900. Other vehicles that currently support CarPlay include the 2016 911 and the 2017 models of Macan, 718 Boxster, and 718 Cayman. The company did not mention support for Google's corresponding Android Auto in its announcement. http://bit.ly/295ZQ94
Apple employees testing wheelchair features
New features included in the forthcoming watchOS 3 are being tested by Apple retail store employees, including a new activity-tracking feature that has been designed with wheelchair users in mind. The move is slightly unusual in that, while retail employees have previously been used to test pre-release versions of OS X and iOS, this marks the first time they've been included in the otherwise developer-only watchOS betas. The company is said to have gone to great lengths to modify the activity tracker for wheelchair users, including changing the "time to stand" notification to "time to roll" and including two wheelchair-centric workout apps. http://bit.ly/2955JDa
SanDisk reveals two 256GB microSDXC cards
SanDisk has introduced two 256GB microSDXC cards. Arriving in August for $150, the Ultra microSDXC UHS-I Premium Edition card offers transfer speeds of up to 95MB/s for reading data. The Extreme microSDXC UHS-I card can read at a fast 100MB/s and write at up to 90MB/s, and will be shipping sometime in the fourth quarter for $200. http://bit.ly/294Q1If
Apple's third-quarter results due July 26
Apple has advised it will be issuing its third-quarter results on July 26, with a conference call to answer investor and analyst queries about the earnings set to take place later that day. The stream of the call will go live at 2pm PT (5pm ET) via Apple's investor site, with the results themselves expected to be released roughly 30 minutes before the call commences. Apple's guidance for the quarter put revenue at between $41 billion and $43 billion. http://apple.co/1oi1Pbm
Twitter stickers slowly roll out to users
Twitter has introduced "stickers," allowing users to add extra graphical elements to their photos before uploading them to the micro-blogging service. A library of hundreds of accessories, props, and emoji will be available to use as stickers, which can be resized, rotated, and placed anywhere on the photograph. Images with stickers will also become searchable with viewers able to select a sticker to see how others use the same graphic in their own posts. Twitter advises stickers will be rolling out to users over the next few weeks, and will work on both the mobile apps and through the browser. http://bit.ly/29bbwUE