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Electronic Enforcement Keith Inman

Electronic Enforcement Keith Inman. October 2000. ASIC & Cyberspace. Entry barriers to crime have dropped. easy to use cheap access to a very large consumer base anonymous. Trend?. Old economy scams + New economy scams = Significant increase in volume. E-Scams.

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Electronic Enforcement Keith Inman

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  1. Electronic EnforcementKeith Inman October 2000

  2. ASIC & Cyberspace • Entry barriers to crime have dropped • easy to use • cheap • access to a very large consumer base • anonymous

  3. Trend? Old economy scams + New economy scams = Significant increase in volume

  4. E-Scams • Illegal Investment schemes • IPOs without prospectus • Free Stock offers • High Yield Schemes • Exotic Schemes • Market Manipulation (Pump & Dump) • Unlicensed advice (Financial Gurus) • Non-Disclosure of interests • Hawking Trading software • Exaggerated claims • Unlicensed advice

  5. Bulletin Board Postings Spam Email

  6. Independent Relay Servers

  7. Bulletin Board Postings ISPs IP 1 IP 2 #1 #2 Suspect 2 Suspect 1 Spam Email

  8. The Challenge? • Trace the source • Postings on BBs • SPAM emails • Understand the technology • Content Providers • ISPs • Telecommunication Carriers • Gather & present evidence

  9. The Challenge? • Dog years !!! • 1 day = 1 month

  10. ASIC What is ASIC doing?

  11. Leverage Web technologies • Internal Learning & Development • Consumer Education • “Self Help” Resources • Detection

  12. Electronic Enforcement Unit (EEU) • Small, national team • “Centre of expertise” • Dedicated resources • Legal • Investigative • Technical

  13. ASIC • National volunteer network of 60 staff • Specialized web tracing/forensic computing training • Linked through an intranet site

  14. EEU Intranet ASIC

  15. ASIC ASIC Scam Site?

  16. ASIC ASIC Scam Site - results? • 11,000 visitors between April 1 and April 30 • 1200 asked for more information • 233 wished to invest • $4.02 million pledged to scam

  17. ‘Self Help’ Resources • On-line consumer advice • Due diligence searches • “Look left and right before you click..”

  18. Detection • ASIC’s “Web Hound” Project • Automatically • identify “high risk” web sites • assess & aggregate the risk • analyze risk associated to mentioned entities • identify and refer high risk matters

  19. Public Search Engines Content Gathering Internet Data Collection Public Query Collect Secure Risk Assessment Report Analyse Corporate DBs AIR GAP

  20. Sought after tools • Use of equipment for search warrants • Mirror Imaging • Retention of ISP records • Monitoring by ISP • Removal of internet material • Removal if ISP services • New offence for SPAMMING

  21. Electronic EnforcementKeith Inman October 2000

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