eCommerce Journal - Learning more about virtual economy - Fraud

APACS warns against phishing mail

ayny — Fri, 25 Jul 2008 11:40:43 +0200

The figures reported by the UK payments association APACS show that online banking popularity underwent a significant grow among the adult customers in the country increasing 505% from less than 3.5 million in 2000 to just over 21 million last year while frauds related to online banking transactions decreased 33% in 2007 on a year-over-year basis.

Amalgamated forces to struggle against phishing in China

ayny — Thu, 24 Jul 2008 15:28:13 +0200

In Beijing a number of Chinese banks and securities

Intelligent cards in the fight against identity fraud

ayny — Thu, 24 Jul 2008 12:55:04 +0200

Fraud-resistant proof of identity technology is to be offered to merchants in Germany starting from November 2010 when current identity cards will be replaced by new national identity cards which means high increase of participants in online commerce.

In order to be eligible to use new identity proof technology online stores should apply for a certificate of entitlement from a government agency.

Vodafone will screen its users

ayny — Thu, 17 Jul 2008 09:38:35 +0200

Customers of Vodafone are to be screened via Datanomic's Director Sanctions/PEP (Politically Exposed Persons) Screening tool. The two companies signed the corresponding agreement.

Money Transfer service provided by Vodafone is intended for customers from developing countries and migrant populations who need the instrument for sending money back home. According to the figures reported by the statistics overseas migrants made money transfers amounting to $93 billion just to Africa alone.

It is better to be warned....

ayny — Tue, 15 Jul 2008 14:22:04 +0200

Today development pace of electronic commerce is so high that a number of market participants are on happy roll thanks to such a headlong growth. Just look at the figures characterizing the growth of e-commerce turnovers in China – market of the celestial country grows for 110% a year starting from 2002.

IRS warns about the impostors

ayny — Mon, 14 Jul 2008 12:52:16 +0200

The Internal Revenue Service cautions taxpayers to be on the lookout for a new wave of scams using the IRS name in identity theft e-mails, or phishing, that have circulated during the last two months.

In May and June alone, taxpayers reported almost 700 separate phishing incidents to the IRS. In 2008 so far, taxpayers have reported about 1,600 phishing incidents to the IRS.

Giants alliance against phishing

ayny — Wed, 09 Jul 2008 14:43:25 +0200

The worldwide internet auction giant eBay and the biggest online payment processor PayPal are starting "a collaborative effort with Google’s webmail service Gmail to better protect consumers against fraudulent e-mails and phishing attacks. Starting today, eBay and PayPal customers with Gmail accounts will have a safer e-mail experience because they will receive fewer fake e-mails claiming to be sent by eBay and PayPal."

Careless cardholders

ayny — Tue, 08 Jul 2008 08:57:51 +0200

According to the data from the latest reports by Saga the UK young cardholders are most likely to become victims of credit card fraud.

In view of high increase of credit card frauds for the past several years consumers are being constantly warned to be more cautious and careful when disposing their credit card accounts and information.

Attitude towards security issues

ayny — Mon, 07 Jul 2008 12:05:53 +0200

The latest data from the Unisys Security Index prompt that New Zealanders are more relaxed about security issues than most of the rest of the world.

On a globe level identity theft and financial fraud represent top concerns and take first or second place in the list of the surveyed range of security issues while in New Zealand the index has declined seven points since August 2007.

Fraud via an outstanding wire transfer company

ayny — Fri, 04 Jul 2008 10:11:58 +0200

Customers in the US are making complaints against scammers who use MoneyGram wire transfers to rob residents from Idaho and elsewhere from their money.

In view of the fact MoneyGram Payment Systems made a decision to fund a $1.1 million national consumer awareness program.

In addition to other measures MoneyGram is going to provide prominent warnings about fraud on forms people fill out when wiring their money. The forms will be available both in English and Spanish.

China set about levying taxes upon online merchants

ayny — Thu, 03 Jul 2008 08:00:35 +0200

All corporate entities or individuals in China having online businesses are required to register with the administration starting Aug. 1. The Beijing Administration for Industry and Commerce (BAIC) obliges online businesses making profit from their sales in the Internet to pay taxes. This is not to be applied to people who sell or swap personal goods not for profit.

Experiment to detect fraudsters’ activity

ayny — Tue, 01 Jul 2008 05:41:54 +0200

Latest report suggests that taking the advantage of the credit crunch scammers use financial spam to twist UK internet users and the risk is increasing.

As per the study a large number of fake outfits are functioning on the territory of the UK under the cover of offering pre-approved loans and credit cards.

Montreal trying to curb credit card fraud

ayny — Wed, 25 Jun 2008 11:48:58 +0200

In Canada the daily amount of funds to be withdrawn from automated banking machines will be reduced by the Bank of Montreal. The action is directed to decrease fraud cases.

Thus the previous limit that amounted to $1,000 will be cut to $500 per day, according to the statement of BMO director of communications, Ron Monet.

Insurance scam to be prevented in South Africa

ayny — Tue, 24 Jun 2008 13:54:05 +0200

US-based Clickatell is providing South African insurer, Santam, with mobile phone messaging technology to enable a text-based fraud reporting system.

People using the system will be able to anonymously report to Santam about an insurance scam via an SMS text message.

All the truth about Internet crime

ayny — Mon, 23 Jun 2008 15:44:52 +0200

Every day the Internet brings us some news trumpeting all over the world that some company has invented a new way to protect from fraudsters, raised security level of payment systems and etc. But swindlers are also not going to make no headway. Their keenness of wit may and even should cause envy.

South Africans defrauded of their credit card scores

ayny — Mon, 23 Jun 2008 14:56:09 +0200

The drastic increase of credit card fraud in South Africa within the last three years resulted in millions of rand lost yearly by the consumers.

In order to steal scores of South Africans, scammers made online orders of credit card skimming devices from China which were imported later for their criminal plans.

Criminals producing fake plastic cards caught in Sri Lanka

ayny — Sat, 21 Jun 2008 15:12:58 +0200

A special CID team has arrested a sophisticated machine used for printing forged credit cards along with 4 suspects in Sri Lanka.

As per officials the information that helped in discovering the machine location was received during the interrogation of Neshanadan Muruganandan, working under the alias "Anandan", the alleged mastermind behind this international credit card scam.

Stock Spammers: Invest a penny – milk a million

ayny — Fri, 20 Jun 2008 21:34:08 +0200

By now it seems that all of us know what spam is. It gets to us via various communication methods on a daily and sometimes hourly basis. We have been spammed through our snail mail boxes filled with offers we don’t need, mobile phone text messages targeted at commercial advertising, unsolicited land phone line marketing, and of course, email messages.

Vishing targets the US cardholders

ayny — Thu, 19 Jun 2008 09:53:28 +0200

Nowadays scammers and fraudsters become more and more ingenious. Sometimes the specialist even cannot keep the pace of their resource. The California Credit Union League on Wednesday warned credit unions and their members to be on the alert for a new type of scam that is a variation of the widespread email scam known as phishing.

Privacy trampled online in Kenya

ayny — Thu, 19 Jun 2008 09:36:54 +0200

Kenyaipos, an African website that was built to facilitate online share applications for Safaricom's initial public offering, was found insufficiently secure with investors.

At fist the site was gladly welcomed by investors as they thought it very conveniently is able to escape queuing for hours at the brokers' offices to apply for shares.

Single parents robbed online

ayny — Mon, 16 Jun 2008 11:06:28 +0200

Single parents availing of the EPPICard system to receive child-support payments are being warned by the US Federal Bureau of Investigation against contrivances of online scammers.

"Individuals have reported receiving email or text messages indicating a problem with their account.

Will your purchase come to your door?

ayny — Fri, 13 Jun 2008 14:10:37 +0200

It is now much easier for fraudsters to commit their criminal acts. Resorting to their numerous wiles they manage to deceive the equipment used by most e-retailers to verify the identity of cardholders so as to steal goods from the stores.

Keep safe while surfing online

ayny — Fri, 13 Jun 2008 10:47:58 +0200

Sometimes a fear of being scammed prevents us from visiting lots of sites. You cannot just click on some link because it may redirect you to some fraudulent website. But it is not necessary to live in a constant fear and to deprive yourself of a pleasure. Just be attentive and keep in mind the following tips!

ID tool that is not easy to fake

ayny — Mon, 09 Jun 2008 13:00:19 +0200

A new anti-fraud device was developed and designed by Siemens in the shape of a fingerprint scanner.

The risks of online fraud are expected to be reduced at the expense of the technology assumed as a basis for the gadget which has a pocket size. Bank customers will be identified by the device when electronically reading their fingerprints.

Numox payment system - a new generation of Internet - scam!

ayny — Fri, 06 Jun 2008 20:58:29 +0200

When we started writing an article about Numox payment system, we were sure that we would see a common payment processor, registered by some offshore company that dreamed of making a revolution in the payment industry. However, any new facts that we were learning about Numox shocked the reporters of ECJ more and more.

Escrow companies robbing online shoppers of money

ayny — Fri, 06 Jun 2008 10:24:17 +0200

Scammers in Hawaii invent new methods to rob online consumers of their money. Scammers pose as fake escrow companies to have online shoppers to pay them for the purchases.

Usually escrow fraudsters resort to their tricks together with an online auction or Web site with classified ads.

Wales undertakes emphatic measure against online fraud

ayny — Thu, 05 Jun 2008 15:19:06 +0200

In Great Britain remedies against online crime is being developed by Wales. The problem draws close attention and is being approached on a serious level. Businesses in Wales have an operative instrument to rely on in case they need help and guidance which may be accessed due to e-Crime Wales program.

Fraud? Beat it!

ayny — Tue, 03 Jun 2008 11:45:19 +0200

What is the greatest fear of all online users? Of course fraud! Exactly fraud makes people to refuse a great number of services and solutions offered by the Internet.

Even among those performing transactions on the Internet -- banking, stock trading or checking credit card balances online -- appear to be worried about the threat of fraud.

DDoS Attacks... Now forums are involved!

lexus — Fri, 30 May 2008 01:17:28 +0200

Though it has been only 5 months into the current year, we can already call it the most “DDoS productive” year as DDoS or DoS attack industry has reached its peak this year. Judging by victims and affected sites, this “bad luck” can be called as the Internet plague of XXI century. We have already covered the subject of DDoS attacks, their nature and the ways of realization.

UK’s identity theft most unsecured area

ayny — Thu, 29 May 2008 11:19:05 +0200

As per official information one of the riskiest places in the UK for identity fraud is TEESSIDE postcode.

In Ingleby Barwick residents of TS17 5 are reported to be over four times more subjected to identity theft than the UK average.

It is esteemed as one of the places which are the most vulnerable to fraud outside of London - which remains the UK's identity fraud capital.