Robotic Falcon Maker Loses £100,000 to Cyber Criminals

Illustrative: In this June 16, 2013 file photo, users browse the Internet in an underground station in Hong Kong. (AP)
Illustrative: In this June 16, 2013 file photo, users browse the Internet in an underground station in Hong Kong. (AP)
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Robotic Falcon Maker Loses £100,000 to Cyber Criminals

Illustrative: In this June 16, 2013 file photo, users browse the Internet in an underground station in Hong Kong. (AP)
Illustrative: In this June 16, 2013 file photo, users browse the Internet in an underground station in Hong Kong. (AP)

Entrepreneur John Donald sells robotic falcons around the world but still can’t believe that he fell victim to cyber-crime during the coronavirus pandemic.

The tech-savvy grandfather said he was targeted by fraudsters when his family business was struggling to cope with a 95% fall in its turnover.

The 72-year-old was deeply suspicious but eventually caved in to their demands and transferred nearly £100,000 to a fake bank account.

He told BBC Scotland: “When my wife came through the door just at the end of this process, she thought I was having a nervous breakdown. It was very, very stressful. I wouldn't wish it on anybody.”

New figures released by Police Scotland show there has been a 68% increase in fraud since 2018, with 17,000 cases recorded last year - the vast majority online.

Senior officers at Police Scotland believe cyber-crime is massively under-reported and the latest figures represent the tip of the iceberg.

It has become such a challenge that the detection rate for fraud has halved in recent years and now stands at roughly 16% of cases.

Police Scotland is investing an additional £4.3m in its cyber-crime strategy to buy new equipment and provide training for all of its operational officers.

The force has also drawn up a protocol to ensure its use of new technology is ethically sound.



OpenAI Secures $4 bln Credit Facility

The OpenAI logo is seen in this illustration taken, February 3, 2023. (Reuters)
The OpenAI logo is seen in this illustration taken, February 3, 2023. (Reuters)
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OpenAI Secures $4 bln Credit Facility

The OpenAI logo is seen in this illustration taken, February 3, 2023. (Reuters)
The OpenAI logo is seen in this illustration taken, February 3, 2023. (Reuters)

OpenAI said on Thursday it has secured a new $4 billion credit facility, in addition to the $6.6 billion investment the AI startup unveiled on Wednesday.

The revolving credit facility that is undrawn at closing has been established with JPMorgan Chase, Citi, Goldman Sachs, Morgan Stanley, Santander, Wells Fargo, SMBC, UBS and HSBC, Reuters reported.

The company now has access to over $10 billion in liquidity, OpenAI said in a blog post.