Fraud

One toy shop retailer got an order from New Zealand for $1,000 lately. By some reason the retailer decided to double check. In the course of the further investigation she found out that the order was faked and the person that made it lived not in New Zealand by a long shot. The address turned out to be in Indonesia. And there were lots of credit card fraud warnings about the address and the name specified in the order.

Growth of cybercrime is expected to go on throughout 2008. An opportunity to get access to big funds with little risk to be apprehended or traced is too attractive and lucrative to give it up.

The online fraud 'business' is estimated to be tens of billions of dollars yearly. Today it is even larger than drug operations.

Fraudsters are increasing their attacks on Irish banks and there are more phishing cases today than ever.

This year a number of online banking customers were stolen from their funds by means of scam e-mail. Unfortunately there is hardly a half of the Internet subscribers in the country who have the remotest idea about what the term ‘phishing' means at all.

Mansion.com - sponsors of Premier League football club Tottenham Hotspur - has become a part of Ethoca's global community of companies striving for reducing fraud and increasing revenues. Ethoca is the leader in collaborative fraud management.

The whole e-commerce world was recently shocked with a number of DDoS attacks against the leaders of electronic payment market ePassporte and Liberty Reserve, especially the latter one which became a "favourite" of ddosers. There is not a single forum where the participants have ignored this hot topic.

CheckFree FraudNet automated fraud detection and case management system developed as a powerful solution for monitoring and stopping fraudulent transactions before they are processed since November 2005 thwarted over 21,000 fraudulent bill payment transactions on amount of $287.9 million.

Every catastrophe has its signs and can be predicted and avoided. Fraud is also a kind of catastrophe with its own signs and it also can be predicted and respectively avoided.  The main thing is attention and some tips that should be learnt by heart.

Know the Signs

Credit card information is sold in the surreptitious online markets. This information is available for at least 16 Rs.

One survey states that on such kind of illegitimate forums credit card numbers may be acquired for $0.40 (Rs 16) to $20 (Rs 811). In regards to bank account details the latter are for sale at $0.40 (Rs 16) to $20 (Rs 811).

Latest reports state that the most vulnerable sector in the retailing business subject to fraudsters' attacks  is represented by small retailers. Credit card sharks usually violate point of sale terminal systems of this sale group.

Economic recession is increasing the number of scam cases as it is claimed by Cifas, fraud prevention service.

The first quarter of the current year has seen a total of 52,286 fraud cases, the number shows 10 percent raise against the last report.