The Financial Register.

Inward fraud & financial crime, explained for Gen Z

Case file

The online partner who turned a bank account into a money tunnel.

A woman in her fifties, recently widowed, met a man on a dating app who said he was a marine engineer working offshore. They spoke every day for four months.

The Financial Register

He never made a video call — the ship’s connection, he said. Then his contract payment was “held by compliance”, and he asked whether a colleague could send his wages to her account so he could pay his mother’s hospital bill. Over six weeks, eleven deposits arrived from eleven different names. She forwarded each one within a day, as asked, in amounts just under ten thousand dollars. The bank closed her account without warning on the twelfth.

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Three tools. They answer different questions.

This is a live blog. Newest entries first, and it keeps updating while you read. 14 entries shown here.

Flaw in COLDCARD wallet's random number generator linked to $88.6 million Bitcoin theft
Photograph: BleepingComputer
Live

Flaw in COLDCARD wallet's random number generator linked to $88.6 million Bitcoin theft

Researchers say a vulnerability in COLDCARD hardware wallet firmware was exploited to steal approximately 1,367 Bitcoin worth $88.6 million from 4,585 wallets, with the…

3 Aug

Chinese hacker deploys DeepSeek AI to autonomously attack vulnerable serversAI

Chinese hacker deploys DeepSeek AI to autonomously attack vulnerable servers

A China-based threat actor is using the DeepSeek AI model and open-source Hermes Agent to conduct autonomous cyberattacks on exposed servers with minimal human…

1 Aug
Western allies warn North Korean IT workers fund nuclear arsenalNorth Korea

Western allies warn North Korean IT workers fund nuclear arsenal

A coalition of 19 government agencies across nine countries warned on Friday that North Korea is deploying IT workers under stolen identities to generate illicit revenue…

1 Aug
Open Source

The US Cybersecurity and Infrastructure Security Agency has published new guidance on…

31 July
Google says AI fixed 1,072 Chrome security bugs in two releasesTechnology

Google says AI fixed 1,072 Chrome security bugs in two releases

Google says artificial intelligence helped patch 1,072 security vulnerabilities across Chrome 149 and Chrome 150, surpassing the total fixed in the previous 23 releases…

31 July
Terrorism

Online ecosystems reshape how terrorist threats emerge in Europe, Europol warns

Europol’s latest terrorism report says online platforms are fundamentally changing how extremist threats develop and move from the internet into real-world attacks,…

31 July
Anthropic discloses Claude AI hacked into three organisations during testingAI

Anthropic discloses Claude AI hacked into three organisations during testing

Anthropic said its Claude AI model accessed the systems of three organisations during security tests that were supposed to be isolated from the internet, the company…

31 July
Russian cruise missile struck Polish territory during attack on UkraineConflict

Russian cruise missile struck Polish territory during attack on Ukraine

Polish Prime Minister Donald Tusk said a missile that crashed into a field in eastern Poland early Thursday was "in all probability" a Russian Kh-101 cruise missile and…

31 July
Spain deploys troops to Ceuta after thousands swim from Morocco, at least 15 drownMigration

Spain deploys troops to Ceuta after thousands swim from Morocco, at least 15 drown

Spain is sending armed forces to its North African enclave of Ceuta after thousands of migrants swam across from Morocco on Thursday in a mass crossing that left at…

31 July
Cyber extortionists claim theft of 600,000 data records from UK Department for EducationCybersecurity

Cyber extortionists claim theft of 600,000 data records from UK Department for Education

Cybercriminals calling themselves ExfilSquad have claimed responsibility for compromising data from two UK Department for Education portals — the DfE Help Desk…

31 July
North Korea's Lazarus Group sharing hacking tools with ransomware criminals, South Korean agencies warnNorth Korea

North Korea's Lazarus Group sharing hacking tools with ransomware criminals, South Korean agencies warn

Cyberattack tools and infrastructure used by North Korea’s Lazarus Group have been shared with ransomware criminals targeting South Korean organizations, according to…

31 July
North Korea-linked hackers compromised major JavaScript libraries, Amazon saysNorth Korea

North Korea-linked hackers compromised major JavaScript libraries, Amazon says

A North Korea-linked hacker group known as SapphireSleet was behind four separate compromises of popular open-source JavaScript packages, Amazon researchers said in a…

31 July
Anthropic's Claude breached 3 organizations, uploaded malware to PyPI during security testsTechnology

Anthropic's Claude breached 3 organizations, uploaded malware to PyPI during security tests

Anthropic disclosed today that during internal security evaluations, one of its Claude models built a malicious Python package and uploaded it to PyPI, where it executed…

31 July
Off air

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The explainers and case files below don’t depend on it.

Start with one of these

Six ways money arrives before the trouble does

Different pitches, one mechanism: your account receives money that isn’t yours, and you are asked to move it on.

Money mulesA stranger → your account → goneA strangerYOUGone

Someone else’s money, moving through your account, in your name.

You keep a small cut. The bank keeps the whole record. When police read that record, the name on it is yours.

See what this means for you
Romance scamsYour “partner” → your account → goneYour “partner”YOUGone

The person who loves you needs your bank account.

Months of messages, then one small favour: receive this money, and send it on. The romance was the recruitment.

See what this means for you
Remote-access “refund” scamsA “refund” → your account → goneA “refund”YOUGone

They refunded you too much. Now they want the difference back.

The extra money on your screen came from another victim — or from your own savings, moved between your own accounts while you watched.

See what this means for you
“Quick cash” job scamsAn “employer” → your account → goneAn “employer”YOUGone

The job is real money. The employer is not.

No interview, no ABN, no office — just your bank details and $500 a week to “process payments” from home.

See what this means for you
Student scamsA classmate → your account → goneA classmateYOUGone

The ad on the campus noticeboard only needs your bank account.

International students are targeted hardest, because a visa condition makes the threat of “trouble with the authorities” do all the work.

See what this means for you
Diaspora-targeted scamsA contact → your account → goneA contactYOUGone

The call comes in your language, from someone who knows your paperwork.

Fake embassy fines, fake immigration officers, fake remittance agents — the trust of a shared community, used as a tool.

See what this means for you

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Bylined, and corrected in public

Case files and explainers carry an editor’s name. Corrections are published on the page they correct, not quietly deleted.