In-brief: a 2013 ruling by the Supreme Court that limited the right of Amnesty International to sue the government for damages caused by the actions of the secretive Foreign Intelligence Surveillance Act (FISA) court is being used by Home Depot to question consumers’ right to sue for damages related to a massive theft of credit cards from that company in 2014.
The news yesterday was that the FBI arrested a 26 year-old San Francisco man responsible for operating Silk Road 2.0 – an anonymous, online marketplace for illicit goods. The news on Friday is that Silk Road was just the tip of the iceberg. On Friday, the FBI and announced that it has seized dozens of other so-called “dark market” websites offering a range of illegal goods and services for sale on the “Tor” network. The coordinated take downs are the “largest law enforcement action to date against criminal websites operating on the ‘Tor’ network,” the FBI said in a statement. “We shut down the original Silk Road website and now we have shut down its replacement, as well as multiple other ‘dark market’ sites allegedly offering all manner of illicit goods and services, from firearms to computer hacking,” said Manhattan U.S. Attorney Preet Bharara The take-downs were part of a coordinated law enforcement action […]
The folks over at Smart Data Collective have an interesting story today on Big Data and its (expected) impact on a variety of industries and business practices. Fraud (and fraud detection), it turns out, may be one area that is transformed by better data analytics. According to the article, by Monte Zweben, fraud analytics are posed to be transformed not just by “Big Data,” but by better and faster analytics. The article looks at a variety of industries, including consumer marketing and logistics that stand to benefit from the growth in data and data analytics. Fraud detection is one of them. Zweben cites statistics on the growth of fraud as a global problem. Kroll’s most recent Global Fraud Report found the number of companies falling victim to fraud has increased to 70 per cent. Credit card companies were among the first to embrace “Big Dat” analytics to spot irregularities in patterns of charges […]