Internet Fraud in the UK 2009
A report on fraud in the UK has been published by the UK's collaborative fraud prevention service CIFAS.
Identity fraudsters prefer to make their applications over the internet, where there is a distance between them and their crime.
The report highlights a shift to using the internet to assist fraud in the areas of identity fraud and bank account fraud.
With attempts over the internet, the likelihood is that the fraudster has obtained the relevant login details from a source outside the bank's control e.g. phishing attacks. Also, as the number of people who have internet access to their accounts has increased, so has the number of potential victims for the fraudsters who specialise in taking over accounts online.
A reduction is plastic card frauds is attributed to increased scrutiny of applications, lenders being more cautious and thus fewer cards being issued, increased checks around change of address and increased internet security measures such as 3D Secure.
Fraud can be an issue for all types of organisation, and should be taken into consideration when designing all web-enabled systems—not just those related to payments.
Figures for internet crime in the US were also released last week in the US Internet Crime Complaint Center's 2009 IC3 Annual Report.
Posted on: 23 March 2010 at 09:00 hrs
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