Retailers receive orders made to grab their property
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.
Cost-effective business of fraudsters
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.
Don’t believe bank inquiries coming in email
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.
Online gaming gets a shield against fraud
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.
CheckFree said “NO” to online fraud
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.
Underworld market
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).
Who is more likely to be in a risk group?
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.
Tricksters mushrooming up
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.
Frauds may be impeded
Taking intricate measures are not necessary to protect yourself from fraudsters according to some risk assessment companies.
Simply carefully concealing documents, exterminating bills or checks remained and making sure that litter bins are properly emptied may prove effective against online scams.
Fraud Management Strategies of U.S. Financial Institutions
Aite Group has published a new report titled 'Fraud Management Strategies of U.S. Financial Institutions: The Drive Toward Enterprise-Wide'. A new report from Aite Group, LLC examines the fraud management strategy of U.S. financial institutions today, and how it is expected to evolve over the next three years.
