According to an article on The Times of India, a rare type of cyber-crime has been uncovered in Bihar, in which trains were shown as temporarily cancelled to make the system refund money to the concerned travel agencies while the tickets still remained valid.

Here's the article.

For a more dramatic version of the same can check this out .

A new worm is targeting instant messaging users. 
Spotted on Yahoo! Messenger and Skype, the attacks use sophisticated social engineering techniques to trick users into infecting themselves.

It is quickly spreading via Web links to fake images. Users who fall victim to this threat have an IRC botnet client installed on their computers.

The messages used to lure potential victims are more enticing and variate with each attack. "Does my new hair style look good? bad? Perfect? ;)" or "My printer is about to be thrown through a window if this pic won't come our right. You see anything wrong with it?" are just two examples. Also, the spammed image URLs end in actual .jpg and point to a RapidShare lookalike website called tinyfilehost.com.

Hitting the download button on the page prompts the download of an archive file called NewPhoto024.JPG.zip. 
Inside the archive, there is a .COM MS-DOS executable file deceptively called NewPhoto024.JPG_www.tinyfilehost.com, which installs a backdoor.

Users are advised to exercise increased caution when choosing to open links received from their friends and, as always, connect to the Internet with a capable and up-to-date antivirus product installed.

Ref: http://news.softpedia.com/news/Complex-IM-Worm-Infects-Yahoo-Messenge...

According to a report on Global Cost of Data Breach sponsored by PGP corporation the global average cost of a data-loss incident was $3.43 million last year i.e about $142 per compromised record.

The average cost for U.S. organizations was $6.75 million or $204

Lost business was universally the greatest contributor to costs associated with breach incidents, accounting for 44 percent of costs. 
The cost of lost business was higher than average for U.S. firms, accounting for 66 percent of overall breach expenses

Other costs included activities to detect and investigate the breach, to notify victims and to provide credit monitoring services. 
U.S. firms also paid more than those in other countries to notify breach victims .

Amount paid per compromised record:

• $15 in U.S
• $10 in the U.K
• $9 in Germany
• $6 in France
• $4 in Australia.

Ref: http://www.scmagazineus.com/us-organizations-face-the-highest-data-br...

Ref: http://www.encryptionreports.com/

On Wednesday (05/05/2010) facebook disabled the live chat function after a bug that allowed users to eavesdrop on their friends conversations was discovered. The site also took emergency action to correct a separate hole that allowed users to see their friends pending friend requests!!

This appears to be a result of a new "preview my profile" service Facebook added late last month in an effort to give users more control over their privacy settings.

In a statement issued facebook said it temporarily suspended the chat function while it patched the information leak. 
Over the past month, Facebook has been under siege by a variety of critics who say the site is imperiling the privacy of its 400 million or so users.

Ref: http://www.theregister.co.uk/2010/05/05/facebook_eavesdropping_bug/