Posted on 05/24/2012 1:35:58 PM PDT by Evil Slayer
Identity fraud and other forms of account takeover theft nearly doubled over the last year, according to CIFAS, one of the official fraud prevention services.
Cases of account takeover fraud reported between January and April increased by what a spokesman called “an astonishing 82pc compared to the same period in 2011”.
People who bank or shop online are most vulnerable, as CIFAS reckons the internet was used in 71pc of account takeovers.
This form of fraud ranges from one-off hijacks in order to pay for goods, to the complete emptying of an account – such as cancelling existing cards or contracts and ordering replacements to be delivered to the fraudster’s address. In order to get away with this, the fraudster has to be able to circumvent the security processes of the organisation that holds the account: and this involves knowing the answers to security questions, passwords and personal identification numbers (PINs).
One new credit card scam has stolen £1m from credit cardholders in the last four months but could be stopped in its tracks if people were aware that no bank’s representative should ever ask for a customer to disclose their PIN over the telephone.
Richard Hurley of CIFAS said: “Whether it is by computer hacking, social engineering through popular websites, to con personal details from victims, interception of postal details or poor security awareness of individuals, fraudsters who hijack an account can only so do with the right information.
“This type of fraud increased by 18pc in 2011, so to see such a staggering increase in 2012 so far is a real cause for concern. Individuals must immediately review their own habits regarding security and passwords.
“The internet did not create fraud, but the convenience and ease it offers honest individuals is also available to fraudsters.
(Excerpt) Read more at blogs.telegraph.co.uk ...
I put permanent freezes on all 3 credit agencies as a start.
identity fraud? let’s start with the kenyan klown in the White House..
” How to avoid falling victim “
Two steps in any direction oughtta do it... ;)
When is there going to be a class action against the banks and credit companies who created this system which is so easily abused?
LOL!
You’re too funny........
Stealing ones life is as bad as murder IMO and should carry a sentence of hanging by the neck until death if one is caught and prosecuted.
it’s tough avoid falling victims, but if you keep your eyes open you can see them coming down.
Bump for later.
I fell off of a 40 foot ladder once.
Not to worry, I was only on the first rung.
“Stealing ones life is as bad as murder IMO and should carry a sentence of hanging by the neck until death if one is caught and prosecuted.”
Add vote fraud and you’ve got my support for the law. I’ll volunteer to tie the nooses for them. Hang’em high, hang’em low, hang’em any way to make’em go...is my thought on the subject.
I’m happy the ladder didn’t fall with you and hit you in the face-—LOL!
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