WARNING - Betfair account hacked / fraud

News & Chat about Betfair.
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andyfuller
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Joined: Wed Mar 25, 2009 12:23 pm

Fri Nov 04, 2011 3:57 pm

Back with one account lay with the other. Money goes to dodgy account they then withdraw it using their own details into their own bank account.

They should use drop down menus for the idea you put forward as well so it is a mouse click rather than you still pressing a key.

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Euler
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Fri Nov 04, 2011 4:24 pm

Given the data theft that occured, I think it's time for Betfair to beef up security.

These cases seem to be occuring with more frequency. I wonder whether if there could be a system issue?

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to75ne
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Joined: Wed Apr 22, 2009 5:37 pm

Fri Nov 04, 2011 4:25 pm

Im pessimistic about the trader getting his 6 ½ k back.
I was reimbursed 30 odd quid, and betfair only refunded me because it was a small amount relative to what I trade with, and my history/behavior showed that after a trading session I always empty it and just leave in 20 to 50 pounds. Plus my thief used it up on £3ish pound bets in the casino, again my history showed that I had never previously placed a bet in the casino or exchange games.


I hope he/she gets their money refunded but betfair were quite adamant they my refund would be a one off. If it happened again irrespective of what amount was left in the account, what ip address/addresses it was accessed from, they would deem it to be my responsibility/fault.

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Euler
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Fri Nov 04, 2011 5:13 pm

I'm familiar with the detail of this case and it is clearly outright fraud, so I will be really interested in Betfair's response. I'll update people as it unfolds.

If the response is not positive then I think the time will have come to campaign for much better security at Betfair, especially in light of the huge security breach; which Betfair have never fully explained or apoligised for.

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Dabbla
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Fri Nov 04, 2011 5:40 pm

chatty gambler has started a Petition for a Betfair Security Token on the BF forum.
http://community.betfair.com/general_be ... -is-needed

You never know they might listen.

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Euler
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Fri Nov 04, 2011 5:48 pm

I think Betfair are in a slight fix in that they need to make it easy for people to place bets but maybe an opt in for higher security should be allowed for bigger accounts. With PC3, the security breach and these sort of stories I only keep minimal funds in my account now. If they had better security I would feel comfortable with funding my account with more money. Security just needs to be a lot tighter.

It has crossed my mind that this specific issue could be a system error? Can't pre-judge though until Betfair come back which I doubt is going to happen quickly on a Friday evening.

I guess one of the issues that Betfair have is people who lose money may claim to be defrauded to avoid a loss. But that would be solved if they had better security.

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LeTiss
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Fri Nov 04, 2011 5:53 pm

Euler wrote: I guess one of the issues that Betfair have is people who lose money may claim to be defrauded to avoid a loss. But that would be solved if they had better security.
That may well be so, but surely they can see money has been withdrawn to a different card number.

If the money has been transferred to another wallet, there must be a trace of that surely?

If BF have systems sophisticated enough to link accounts with similar strategies, then they must be able to recognise a totally different betting pattern to normal when these frauds are being reported

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Euler
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Fri Nov 04, 2011 6:05 pm

I think the fraudsters will be more subtle than that. They could spread the counter transaction across a number of different accounts and repatriate money that way. It would be harder to detect.

It seems clear now that people are defrauding people on Betfair by emptying their accounts, so the onus is on Betfair to stop that happening. If stories like this appear in the telegraph along side the highlighting of the broader security issue, Betfair will have a big problem on their hands.

andyfuller
Posts: 4592
Joined: Wed Mar 25, 2009 12:23 pm

Fri Nov 04, 2011 6:57 pm

You would think these people doing it are not exactly big cyber criminals if they are wasting their time going after a few thousand? Though I guess it could be part of a much bigger scheme.

The chances of them actually being caught is near minimal I would think. I was watching a program not that long ago and the difficulties involved in cross border policing was massive and they were struggling going after guys making millions through cyber crime.

Ferru123
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Fri Nov 04, 2011 7:13 pm

Don't forget that a few thousand could be the average salary in the part of the world where the fraudster lives. :)

And if you go after small amounts, you might remain undetected, whereas if you target big amounts, there's a greater risk of consequences (and not just from the law!).

Jeff
andyfuller wrote:You would think these people doing it are not exactly big cyber criminals if they are wasting their time going after a few thousand?

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