Transcript ASIC - AIJA
Electronic Enforcement Keith Inman October 2000 ASIC Australian Securities & Investments Commission ASIC & Cyberspace Entry barriers to crime have dropped – – – – ASIC easy to use cheap access to a very large consumer base anonymous Trend? Old economy scams + New economy scams = ASIC Significant increase in volume 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 ASIC • Unlicensed advice Spam Email ASIC Bulletin Board Postings Independent Relay Servers ASIC Bulletin Board Postings Spam Email ISPs IP 1 #1 ASIC IP 2 #2 Suspect 2 Suspect 1 The Challenge? Trace the source – Postings on BBs – SPAM emails Understand the technology – Content Providers – ISPs – Telecommunication Carriers Gather & present evidence ASIC The Challenge? Dog years !!! – 1 day = 1 month ASIC What is ASIC doing? ASIC Leverage Web technologies Internal Learning & Development Consumer Education “Self Help” Resources Detection ASIC Electronic Enforcement Unit (EEU) Small, national team “Centre of expertise” Dedicated resources Legal Investigative Technical ASIC National volunteer network of 60 staff Specialized web tracing/forensic computing training Linked through an intranet site ASIC EEU Intranet ASIC ASIC Scam Site? 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 ASIC ‘Self Help’ Resources On-line consumer advice Due diligence searches – “Look left and right before you click..” ASIC 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 ASIC Public Search Engines Internet Content Gathering Query Collect Public Data Collection Risk Assessment Analyse ASIC Corporate DBs Report Secure AIR GAP 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 ASIC Electronic Enforcement Keith Inman October 2000 ASIC