Latest cybersecurity reporting from selected sources.

Also, Kali365 Bypasses MFA, Silent Ransom Group Makes Office CallsThis week, active duty troops tracked, Kali365 bypassed MFA, Australian lawmakers phished on WhatsApp, Silent Ransom escalated IT scams, Lithuania and German hospitals disclosed breaches, pro-Russian infrastructure providers arrested, CISA warned of active LiteSpeed exploitation.

Also: IoTex Bridge Exploit Linked to Private Key BreachThis week, Step Finance shuts down, IoTeX bridge exploit, Russia-linked exchanges help evade sanctions, Australian charged in $3.5 million scam, a hacker returned $21 million in seized bitcoin to South Korean prosecutors and Malaysia arrested 12 police officers in an extortion case.

Treasury Submissions Want Broader Coverage; Gaps Could Weaken ProtectionsAustralia's proposed Scams Prevention Framework leaves key scam-enabling entities outside its initial scope, raising questions about whether the model can deliver the consumer protection it promises.

AI Models can Flag Anomalies, but Still Struggle to Read Human DeceptionReal-time payments settle in seconds - faster than fraud models can think. With most authorized push payment scam losses in Australia occurring over instant payment rails, artificial intelligence models built to spot unusual patterns often miss the one thing they can't predict: human deception.

Treasury Yet to Release Sector-Specific Controls and Reimbursement MechanismsAustralia introduced the world to the first-ever Scam Prevention Framework law that promised to make the country the hardest place on earth for fraudsters. Eight months later, it's trapped in bureaucratic limbo - passed, praised and still waiting to work.

Treasury Yet to Release Sector-Specific Controls and Reimbursement MechanismsAustralia introduced the world to the first-ever Scam Prevention Framework law that promised to make the country the hardest place on earth for fraudsters. Eight months later, it's trapped in bureaucratic limbo - passed, praised and still waiting to work.

Apate.ai CEO Dali Kaafar on Turning the Tables on Fraudsters With AI-Powered BotsMajor banks in Australia are now using bots to foil scammers. The bots are designed to pose as potential victims, extract real-time intelligence and waste scammers' resources. The data is then pushed directly into fraud detection systems used by banks, telecom providers and government agencies.

Apate.ai CEO Dali Kaafar on Turning the Tables on Fraudsters With AI-Powered BotsMajor banks in Australia are now using bots to foil scammers. The bots are designed to pose as potential victims, extract real-time intelligence and waste scammers' resources. The data is then pushed directly into fraud detection systems used by banks, telecom providers and government agencies.

Fraud Expert Trace Fooshee on Regulatory Steps Needed to Curb Payment ScamsWhile the U.K. and Australia have mobilized multiple sectors to tackle payment scams, the United States faces complex hurdles. The U.S. can't replicate other regulatory models but it can pursue targeted actions such as regulating scam-prone ad platforms and creating a central fraud-fighting agency.

Number of Reports Is Down, But Citizens Lost AU$60 Million to Investment ScamsWhile the number of reported fraud cases is down, Australians lost 28% more money to online scams in the first four months of the year, compared to the same period in 2024. The Australian government's National Anti-Scam Center said Monday that Australians lost just over AU$119 million to fraudsters.

Experts Say Consumers Gain Little as Implementation Challenges Loom for FrameworkAustralia's new scams framework bill sets the foundation for industry action but leaves consumers with limited protections. Experts warn that enforcement and reimbursement mechanisms are unclear, forcing victims to navigate a complex system with little guarantee of compensation.

M&T Bank's Karen Boyer on Need for Shared Responsibility with Telecoms, Tech FirmsTechnology solutions can help banks fight fraud, but privacy constraints are preventing them from doing an effective job to ferret out scammers, said Karen Boyer, senior vice president at M&T Bank. She supports a new Australian law that also places responsibility on telecom and internet providers.

Social Platforms Also Could Face Stiff Fines for Failing to Protect UsersThe Australian government passed the Scams Prevention Framework law in Parliament to make social media companies, banks and telecommunication companies accountable for scammers using their networks, subjecting them to a maximum of AU$50 million in fines for violations.

Banks Shift Blame to Social Media, Telecoms While Scam Victims Pay the PriceIf you're the victim of a scam in Australia, the chances of being reimbursed for your stolen funds are low. In fact, the AFCA ruled in favor of full reimbursement for victims in only 4.8% of its cases in 2024, highlighting the difficulty consumers face in disputing fraud-related losses with banks.

Banks Shift Blame to Social Media, Telecoms While Scam Victims Pay the PriceIf you're the victim of a scam in Australia, the chances of being reimbursed for your stolen funds are low. In fact, the Australian Financial Complaints Authority ruled in favor of full reimbursement for victims in only 4.8% of its cases last year, highlighting the difficulty consumers face when disputing fraud-related losses with their banks.

Ken Palla on Lessons From U.K and Australia to Reduce Fraud and ScamsThe U.S. Consumer Financial Protection Bureau's decision to file a lawsuit against Zelle is too late and too narrow to reduce scams, said Ken Palla, retired director with MUFG Bank. CFPB last month sued the operator of Zelle, as well as three banks for failing to protect consumers from fraud.

Also, Australian Fines Kraken AU$8 million Over BreachesThis week, scammers targeted crypto workers with fake meeting apps, Australia fined Kraken crypto exchange operator Bit Trade and a Los Angeles federal court ordered five individuals to pay $5 million. Polish police detained a Russian former exchange operator and FTX debtors clawed back more cash.

3 Countries Taking Different Approaches to Accountability and Victim CompensationGovernments globally are intensifying anti-scam measures, introducing new guidelines to banks, telecom providers and other key sectors to bolster security controls and mitigate fraud risks for consumers and businesses. Some new frameworks threaten to levy stiff penalties for non-compliance.

Also: Malicious Chrome Extension; Mango Markets-SEC SettlementThis week, Binance, ASX and Google sued; Solana users targeted; McDonalds' X account hacked; Mango Markets and SEC settled; China updated AML law; sentencing in the HTSB case; arrest in the BitConnect case; Australia shuttered 615 scams; Malaysia adopted Worldcoin, arrested crypto thieves.