It's rather unfortunate that the biggest story to make the mainstream news about poker concerns the UB and AP scam. What I didn't know, is that the scam was ultimately uncovered by an Aussie, Michael Josem.
I hope that this story does not cause a crisis of confidence in online poker. I am not too concerned about cheating at the levels I play. I figure if you can see the other guy's cards you are probably going to play at least medium to high stakes and not waste time playing 1/2 and 2/4.
I would assume that this particular loophole has been closed at UB and AP. My concern with depositing money at those two rooms is less about cheating, and more about the failure of the company if a large civil action against the company were successful. I completed the PSO kickback at UB without any dramas.