Price to Hire Cyber Experts to Attack Website

The owner and operator of an illegal gambling website in South Korea hired two cyber security experts to attack a competing gambling site. South Korea’s National Police Agency stated that the owner of the illegal gambling site paid two men $911,000 (1 Billion South Korean Won) to attack the competitor. The cyber attack consisted of… Continue reading Price to Hire Cyber Experts to Attack Website

Tax Evasion in Puerto Rico

Economics and tax officials in Puerto Rico estimate that the territory fails to collected an estimate $800 Million in tax revenue from due to unreported income each year. The island currently has a 7 percent sales tax that residents avoid through the use of cash transactions. According to data from the US Treasury, over 80… Continue reading Tax Evasion in Puerto Rico

How Much Banks Spend on Anti-Money Laundering

According to previous estimates by security agencies and the financial industry, between $1.5 Trillion to $2.5 Trillion is laundered around the world each year. In order to combat terrorist financing, drug trafficking profits and tax evasion, countries have implements various financial regulations and created inter-governmental bodies such as the Financial Action Task Force. In order… Continue reading How Much Banks Spend on Anti-Money Laundering

Cost to Drain Competitors AdWords Budget

According to security reporter Brian Kerbs, hackers are selling computer programs that automatically click on competitors advertisements in order to drain their budget. The service automotates bots that commit click fraud throughout the Google Adsense network. By having bots click on the ads, a business can quickly drain their competitors ads to prevent it from… Continue reading Cost to Drain Competitors AdWords Budget

Money Laundering Statistics from Singapore in 2013

The agency responsible for anti-money laundering campaigns in Singapore reported an increase in cases during 2013. According to the Commercial Affairs Department, the agency received 22,417 suspicious transaction reports during the 2013 year, and increase of 25 percent from the previous year. In 341 instances, the agency provided intelligence to foreign agencies, up from the… Continue reading Money Laundering Statistics from Singapore in 2013

Pirated Books Seized in Chile

Between 2011 and 2013, authorities in Chile seized 362,752 pirated books from stores across the country. The pirated books were valued at $1.5 Million. In 2013, a total of 6,559 pirated books valued at $106,000 were seized in Chile. The rate of seizures has increased in 2014, with 13,181 pirated books being seized in the… Continue reading Pirated Books Seized in Chile

Examples of the Size of Illegal Gambling on the World Cup

Two cases of illegal gambling syndicates in Asia highlight the amount of money being wagered on the 2014 World Cup. Police in Macau broke up a ring that took in $645 Million during the opening matches. 22 people were arrested by police in China, Hong Kong and Malaysia. The syndicate was operating out of three… Continue reading Examples of the Size of Illegal Gambling on the World Cup

Estimated Losses to Cybercrime per Year

A report by the Center for Strategic and International Studies and computer security company McAfee reported that up to$445 Billion a year is being lost globally to cybercrime activities. Online crime, hacking and the theft of intellectual property could cause up to 200,000 jobs being lost in the United States and up to 150,000 jobs… Continue reading Estimated Losses to Cybercrime per Year

Estimated Illegal Gambling on the 2014 World Cup in Thailand

A survey by the University of the Thai Chamber of Commerce found that an estimated $1.3 Billion (43.5 Billion Thai Baht) in illegal gambling bets is expected to be placed in Thailand during the 2014 World Cup Tournament. By comparison, an estimated $789 Million (25.7 Billion Baht) is expected to be spent on consumer goods… Continue reading Estimated Illegal Gambling on the 2014 World Cup in Thailand