Internet fraud's U.S. price tag put at $550 million

U.S. citizens reported losing more than $550 million in 2009 in Internet fraud, falling prey to a variety of increasingly sophisticated scams, according to a report by the Internet Crime Complaint Center.

Internet fraud losses doubled last year

(AP) -- The cost of Internet fraud doubled in 2009 to about $560 million, the FBI said Friday. The most common type of frauds reported were scams from people falsely claiming to be from the FBI.

Google acquires Web security firm reCAPTCHA

(PhysOrg.com) -- Google announced on Wednesday that it has acquired reCAPTCHA, a company that produces the squiggly words used by websites to guard against spam and fraud.

Canadian charged in US in Internet gambling case

A Canadian resident was indicted in the United States on fraud and related charges for processing some 350 million dollars for Internet gambling firms, officials said Thursday.

Militants, 'hacktivists' exploit Web, eye recruits

(AP) -- Terrorist groups that have long used the Internet to spread propaganda are increasingly tapping the Web to teach Islamic extremists how to be hackers, recruit techies for cyberwarfare and raise money through online ...

Japan's ex-IT mogul told to pay damages in Livedoor scam

A Japanese court on Thursday ordered disgraced dotcom tycoon Takafumi Horie and his aides to pay seven billion yen (74 million dollars) in damages to shareholders in his former firm over a fraud case.

Ex-CEO of BetOnSports pleads guilty

(AP) -- The former chief executive of BetOnSports pleaded guilty Wednesday to federal racketeering conspiracy, admitting that the Internet company falsely portrayed Web-based gambling as legal and caused customers to lose ...

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