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Feds Take Down Cyber Crime Ring

Federal prosecutors charged eight individuals on Thursday with participating in a sophisticated campaign of cyber attacks on the global financial system that caused $45 million in losses.In one operation detailed by the indictment, the cyber heist paved the way for $2.4 million in fraudulent withdrawals in New York City alone in less than nine hours.The roundup highlights the government's latest attempt to combat cyber crime, which causes $110 billion in global direct costs each year, according to a 2012 study from Symantec's (NASDAQ:SYMC) Norton division.Prosecutors say the crime ring used sophisticated intrusion techniques, known as "Unlimited Operations," to penetrate the systems of global financial institutions and steal prepaid debit card data and eliminate withdrawal limits. The sensitive data was then spread around the world and used in making massive amounts of fraudulent ATM withdrawals, official allege."The defendants and their co-conspirators participated in a massive 21st c...

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  1. Symantec Plummets 11% in Seconds

    Shares of security software maker Symantec (NASDAQ:SYMC) mysteriously plummeted nearly 11% in just seconds on Tuesday, wiping out $1.7 billion in market value before...

  2. Symantec drop caused by large order without minimum price: spokesman

    A plunge in Symantec shares on Tuesday was the result of a large sell order that did not specify a limit on the price the investor was willing to sell, a company spo...

  3. Symantec shares plunge 10 percent in seconds

    Shares of security software maker Symantec Corp dropped some 10 percent in a span of a few seconds on the Nasdaq on Tuesday before being halted.The stock fell to a l...

  4. Cyber Thieves Nab Billions in Tax Returns

    As more people take advantage of the convenience of filing taxes online, organized criminals are snatching identities and stealing billions of dollars in tax refunds...

  5. Tax Scam Alert: Get an Email From the IRS? Don't Open it!

    Tax fraud comes in many flavors. Here are ways to protect your business from fraudsters looking to steal the money Uncle Sam owes you.

  6. Business is Booming in the Cyber Security World

    With everyone from Facebook (NASDAQ:FB) to the Federal Reserve suffering high-profile cyber intrusions, it's never been a better time to be involved in the multibill...

  7. ETFs Loaded With Low Price-to-Cash-Flow Ratios

    A favorite tool of value investors, the price-to-cash-flow is a gauge of the market's beliefs in a company's future financial health. Uses as an indicator of relativ...

  8. Three Lessons from Chinese Hackers

    Think your company is too small? Chinese hackers see many small businesses as a backdoor to the bigger target - that makes you a target, too.

  9. How To Disable the Source of Cyber Attacks

    FBN's Shibani Joshi on Java, how you can protect yourself, and the latest in cyber attacks.

  10. 5 Steps to Recovery After Your Business Has Been Hacked

    High-profile companies like Facebook and The New York Times aren’t alone in being hacking victims; attacks against small- and medium-sized businesses are on the rise, data shows. Here’s how to bounce back once your company’s security has been breached.

  11. BYOD: It's Not Technically Yours, But it Could Become Your Big Problem

    Your employees may do business on their own computers and PDAs, but your company stands to lose big if hackers or tech bugs infiltrate these devices. So you may want to consider purchasing cyber insurance.

  12. Cyber-security Shares Fall; Citi Skeptical Of Lift

    Shares of several firms in the cyber-security space slipped on Wednesday morning after a Citigroup analyst expressed skepticism that an executive order from Presiden...

  1. TECH STOCKS: AOL Falls, But Facebook, Google, Apple Rally

    Technology stocks recovered from a shaky start Wednesday, getting a lift from shares of Facebook, Google, Apple and chip companies.Facebook (FB) rose 1% to close at ...

  2. AOL, Symantec Fall As Techs Edge Lower

    Technology stocks were struggling to stay afloat on Wednesday, as shares of AOL Inc. and Symantec Corp. fell sharply at the opening bell. AOL was down more than 6% a...

  3. Symantec Reports Sharp Profit Drop But A New Dividend

    Symantec Corp.'s (SYMC) fiscal fourth-quarter earnings fell 66% amid restructuring-related expenses and other items, masking revenue growth and rising operating marg...

  4. Symantec 4th-Quarter Profit Fell 66% Amid Restructuring Expenses, Other Items

    Symantec Corp.'s (SYMC) fiscal fourth-quarter earnings fell 66% amid restructuring-related expenses and other items, masking revenue growth at the security-software ...

  5. Symantec Profit Falls, But Results Beat Views

    Symantec Corp. on Tuesday reported a fiscal fourth-quarter profit of $188 million, or 26 cents a share, compared with a profit of $559 million, or 76 cents a share, ...

  6. High-Speed Traders Capitalize on Loophole

    High-frequency trading firms are reportedly exploiting a hidden loophole at the Chicago Mercantile Exchange to gain a crucial head start against other traders in the...

  7. Symantec : Legitmate Order Caused Mini-flash Crash

    Symantec Corp. on Tuesday said a plunge that briefly cleared more than $1.5 billion in market value before a temporary trading halt was likey error-ridden, but still...

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