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Thread: Online financial fraud - Bruce Golding a victim

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    Default Online financial fraud - Bruce Golding a victim

    Prime Minister Bruce Golding has good enough reasons to support the Cybercrimes Bill after a recent incident left him holding thousands of US dollars in credit-card debt.

    Golding told fellow parliamentarians he had the shock of his life after his bank told him that thousands of US dollars in purchases were made on his Jamaican-issued credit-card account during a two-day spending spree.
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    Wow.

    This happening more and more now. In recent times there have been a number of phishing attacks targeting local financial institutions, and there have been more cases of banking trojans and keyloggers compromising peoples online banking accounts.

    It is good to see that in this case, the victim was able to have the situation resolved favourably. How easy is it for the average person to get that kind of resolution though? The fact that it was a credit card compromise meant that Bruce lost no actual money. What if it were his savings account that was compromised, and his money wired out of it to some foreign bank? How would that be resolved? Is there anything in our local legislation to protect customers of financial institutions when things like that happen? Or are they just "salt"?

    The US apparently has legislation to offer some protection to banking customers in the event their accounts become compromised (read here). Does our eletronic transaction act, cybercrime bill offer any such protection? How to local finincial institutions deal with cases of client account compromise?

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    I want to become a cyber-crime forensic auditor.
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    They will say (do) anything to pass a new law, I don't believe that it happened that way at all.

    I however support the new legislation 100%
    THANK GOD

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    I want to know what exactly they will try to accomplish with this law. Wonder if he will be able to arrest the people in the UK who allegedly took his info.

    We'll see how it goes. Maybe its just another third world country putting the cart before the horse. Can't remember cybercrime being one of Jamaica's main problems. Lets not forget what this can lead to as well. Don't think the government will give as much of a damn about your privacy as the US or other countries.

    You will notice from my first paragraph that this ain't something that should make putting up a law take front stage. Its like saying someone in Russia just tried to get an abortion and ended up killing themselves and the baby so we here must put up a law against abortion. Different country, different social situations. This just happened to to victimize someone not in the country.
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    Quote Originally Posted by semitop View Post
    I want to know what exactly they will try to accomplish with this law. Wonder if he will be able to arrest the people in the UK who allegedly took his info.

    We'll see how it goes. Maybe its just another third world country putting the cart before the horse. Can't remember cybercrime being one of Jamaica's main problems. Lets not forget what this can lead to as well. Don't think the government will give as much of a damn about your privacy as the US or other countries.

    You will notice from my first paragraph that this ain't something that should make putting up a law take front stage. Its like saying someone in Russia just tried to get an abortion and ended up killing themselves and the baby so we here must put up a law against abortion. Different country, different social situations. This just happened to to victimize someone not in the country.
    Do you remember the case with that alleged Digicel "hacker"? The police said that because of the absence of some cybercrime legislation, they would have to charge the suspect under some other law which was not necessarily as appropriate. The cybercrime legislation will set the legal framework for cybercrime to be properly dealt with in the courts.

    Sure, jurisdiction issues make prosecution of certain cybercrimes more complicated. That doesn't mean that we shouldn't try to put things in place to make the investigation and prosecution of such crimes easier in our nation.

    As for this kind of thing being "front stage" financial fraud and online financial fraud is on the rise in Jamaica. From lotto scams, to debit card cloning, to credit card fraud, to phishing - it is happening more and more in Jamaica today. Govt. needs to put things in place to deal with it. I personally know 3 persons who recently became victims of such financial fraud. As the economic situation gets tougher, fraud will increase.

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    Quote Originally Posted by BlackCryptoKnight View Post
    Do you remember the case with that alleged Digicel "hacker"? The police said that because of the absence of some cybercrime legislation, they would have to charge the suspect under some other law which was not necessarily as appropriate. The cybercrime legislation will set the legal framework for cybercrime to be properly dealt with in the courts.
    Lawyers like to play games I guess. I was wondering why they can't just charge someone for theft or fraud in the case of "cybercrime". I mean, he had a computer... so what? If I rob a money truck, they gonna need legislation to cover "armored truck crime" too? well I'm no lawyer.
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    I have a question, do Jamaican banks offer the same protection as US banks? For example, if someone cloned my card and ran up a lot of charges, one call to my bank and all the money would be returned to me.

    I am not only talking about wire transfers but also check and credit card usage. The other day I bought something online and I never received it and the vendor "disappeared" I called my bank and they credited me back the amount without any hassle.

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    Quote Originally Posted by techie2000 View Post
    I have a question, do Jamaican banks offer the same protection as US banks? For example, if someone cloned my card and ran up a lot of charges, one call to my bank and all the money would be returned to me.

    I am not only talking about wire transfers but also check and credit card usage. The other day I bought something online and I never received it and the vendor "disappeared" I called my bank and they credited me back the amount without any hassle.
    Yeah they do but not without any hassle.
    THANK GOD

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    Talking

    it was 2 mil u.s they took & not only airline ticket dem buy but 4 loptop from newegg.com ...... his credit card info was found by SQL exploiter 1.5 & his info was sold over the internet @ the price of 50u.s
    Cyber Criminal

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    This happened to me in December, approximately USD$600 was used off my CC. If I had more money on it as the time they would have used it too. I only use my CC with Amazon, Paypal & OfficeMax. I have a feeling that it was acquired from within the bank.

    Quote Originally Posted by jason_200 View Post
    it was 2 mil u.s they took & not only airline ticket dem buy but 4 loptop from newegg.com ...... his credit card info was found by SQL exploiter 1.5 & his info was sold over the internet @ the price of 50u.s
    If I were you I'd pray that the items that you listed aren't on the list of items that were bought. There are some jokes that you just don't run.
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