Minn. Effort Fights Lottery Fraud
ST. PAUL, Minn.-The Minnesota Credit Union Network (MnCUN) has joined with several other groups in the state in an effort to combat foreign lottery and sweepstakes fraud in Minnesota.
According to the MnCUN, such scams are now responsible for an estimated $8 million to $10 million in losses to Minnesotans, with some saying that due to under-reporting, losses could be as high as $20 million to $25 million. The league has joined with the Minnesota Department of Public Safety, AARP, the Bureau of Criminal Apprehension, Better Business Bureau, Minnesota's Chiefs of Police & Sheriffs Association, Minnesota Board of Aging, Minnesota Bankers Association, Bremer Bank and MoneyGram in the effort that will seek to raise awareness and facilitate better communication. In particular, the collation is targeting fraud that asks potential victims to send in payment to receive a prize or enter a drawing for a prize.
Battling Rock Phish Gang
SAN FRANCISCO-MarkMonitor has released a white paper that suggests more than 50% of all active phishing URLs are the result of scams perpetrated by the "Rock Phish Gang." "The Rock Phish Gang is not your average group of phishers, but a sophisticated international crime syndicate with superior IT skills," the company said. "Responsible for over $100 million in fraud losses per year, the Rock Phish Gang presents a formidable twist on the typical phish. Through an elaborate, multi-tiered scheme, these criminals lead their victims on a virtually untraceable path." The complimentary white paper offers insights on why standard anti-phishing techniques will not defeat a complex Rock Phish attack.
For info: www.markmonitor.com.
Jack Henry, LifeLock Partner
MONETT, Mo.-Jack Henry & Associates Inc., parent to Symitar Systems and other providers, has formed an alliance and re-marketing relationship with LifeLock, a provider of ID theft protection solutions. Client CUs will market the service to members. In sharp contrast to traditional identity theft services, LifeLock renders a consumer's personal information useless to thieves by maintaining active fraud alerts at the major credit reporting agencies, prompting creditors to obtain authorization for new lines of credit or credit file changes that could lead to identity theft," the company said.
LifeLock offers its restoration services with a $1-million service guarantee that it will recover 100% of related losses.
For info: www.jackhenry.com or www.lifelock.com.
