Posts Tagged Fraud
The growing threat of insider fraud not a top security priority for organizations
Posted by brianfpennington in brian pennington on 01/03/2013
An Attachmate sponsored Ponemon Survey indicates the growing threat of insider fraud is not a top security priority for organizations which is proving to be a costly mistake. On average, organisations experience approximately one fraud event per week, according to information from the second annual Attachmate and Ponemon Institute survey, “The Risk of Insider Fraud“ However, only […]
More Than 12 Million Identity Fraud Victims in 2012, study finds
Posted by brianfpennington in brian pennington on 21/02/2013
Javelin Strategy & Research have released their 2013 Identity Fraud Report with some startling results the scariest being “one in four consumers who receive a data breach letter will become the victim of identity fraud.” This means the days when a breached organisation would try to keep a breach quiet with the hope that it would […]
Card Not Present (CNP) Fraud Fall 57% Since 2010
Posted by brianfpennington in PCI DSS Compliance on 18/02/2013
FICO a provider of analytics and decision management technology, has released data showing that card issuers using their FICO® Falcon® Fraud Manager have dramatically cut card-not-present (CNP) fraud losses from credit cards over the last two years, from £28 million in April 2010 to less than £12 million in March 2012. CNP fraud, which includes illegitimate […]
RSA’s January Online Fraud Report 2013 including an excellent summary of Phishing in 2012
Posted by brianfpennington in brian pennington on 30/01/2013
RSA’s January 2013 Online Fraud Report delivers the results from RSA’s fraud monitoring centre, a summary of the report is below. The total number of phishing attacks launched in 2012 was 59% higher than 2011 It appears that phishing has been able to set yet another record year in attack volumes, with global losses from […]
Europol reveals €1.5 Billion Euro in Credit Card Fraud, how it is stolen and why they struggle to catch the criminals
Posted by brianfpennington in PCI DSS Compliance on 25/01/2013
Europol’s Situation Report for Credit Card Fraud 2012 summaries fraudulent activity for credit cards across Europe is a very interesting read. It explains how the criminals act and with what types of techniques and why the Law Enforcement Agencies struggle to catch them. A summary of the Europol report is below. The criminal market of payment […]
2012 saw a 5% increase in fraud
Posted by brianfpennington in brian pennington on 21/01/2013
CIFAS (Credit Industry Fraud Avoidance System) is a not-for-profit membership association representing the private and public sectors. CIFAS is dedicated to the prevention of fraud, including staff fraud, and the identification of financial and related crime. CIFAS operates two databases: National Fraud Database (NFD) Staff Fraud Database (SFD) CIFAS’s analysis of fraud trends during 2012 reveals a 5% increase […]
2012: “A year of Identity & Fraud” a review by Experian
Posted by brianfpennington in brian pennington on 04/01/2013
Experian, a global information services company has posted two summaries of its research and blogs for 2012. I have taken the information that relates to Identity theft and fraud and consolidated it into one post. In March, Experian revealed its latest research which estimated £1.02 billion worth of online shopping transactions were abandoned the previous year […]
RSA’s November Online Fraud Report 2012 including advice on avoiding fraud
Posted by brianfpennington in PCI DSS Compliance on 31/12/2012
RSA’s November Online Fraud Report delivers the results from RSA’s fraud monitoring centre, a summary of their report is below. In 2011, RSA’s e-commerce authentication technology was used by many of the top card issuers around the globe to protect nearly a half a billion e-commerce transactions and their statistics for 2011 (2012 will be posted when available) […]
What will fraud look like in 2013?
Posted by brianfpennington in brian pennington on 19/12/2012
UK Fraud has identified 10 key trends that will characterise the UK domestic fraud prevention market in 2013. The forecasted trends are: With more high quality data becoming available to fraudsters than ever before, an economy forecast to contract and the UK’s benefits spend reducing, overall fraud levels will continue to increase dramatically across the UK and […]
New figures show spread of audacious telephone scam targeting cardholders’ PIN
Posted by brianfpennington in brian pennington on 09/12/2012
New fraud intelligence released demonstrates the extent of the rise of an audacious telephone-based deception targeting British credit and debit card holders. Figures released by Financial Fraud Action UK and The UK Cards Association show that the scam has already caused over £7.5m worth of fraud on credit and debit cards between January and August […]
One in four consumers are victims of card fraud – new study reveals
Posted by brianfpennington in brian pennington on 17/10/2012
A global study of more than 5,200 consumers across 17 countries conducted by ACI Worldwide and Aite Group has revealed that one-in-four respondents has been victimised by credit, debit or pre-paid card fraud during the past five years. More than 20% respondents reporting that they will stop using, or switch from, the card impacted by fraudulent […]
Counting the cost of e-crime to retailers. Actually it’s £205.4 million a year.
Posted by brianfpennington in brian pennington on 23/08/2012
The British Retail Consortium (BRC) has released the findings of their first e-crime study. The study is based on responses to a quantitative survey conducted between April and May 2012. Respondents were members of the BRC drawn from a selection of key retailing types including supermarkets, department stores, fashion, health and beauty and mixed retail. The retailers questioned constitute […]
RSA’s July Online Fraud Report 2012
Posted by brianfpennington in brian pennington on 27/07/2012
In their July Online Fraud Report RSA reports on the activity of online fraudsters, full summary below. Phishing attacks continue to increase around the world. In the first half of 2012, the RSA Anti-Fraud Command Center identified 195,487 unique phishing attacks, an increase of 19% as compared to the second half of 2011. Global fraud losses […]
A new report indicates that UK fraud has fallen by 50% in the last 12 months…
Posted by brianfpennington in brian pennington on 25/07/2012
BDO’s interim 2012 “FraudTrack” report has some fascinating results concerning fraud trends in the UK and for the public sector it isn’t easy reading. It is worth noting before reading the extract from the BDO report that the data only relates to frauds of £50,000 or over. This leaves a considerable amount of discussion on […]
UK Fraud Report 2012
Posted by brianfpennington in brian pennington on 09/05/2012
In April Experian released their 2012 review of Fraud in the UK. There are some interesting findings and a summary of the 28 page document is below. Executive Summary of the report Annual fraud losses across the UK are now estimated to now top £70 billion Of this around £3.5 billion is in financial services […]
May is Scam Awareness Month
Posted by brianfpennington in brian pennington on 01/05/2012
The Trading Standards Institute (TSI) has launched its Scam Awareness Month to stop the surge in criminals scamming people out of their saving. From fake lottery wins in the post to Microsoft and Anti Virus support on the phones, Prince X trying to get his millions out of the country via email and door-to-door conmen they all […]
UK Card Fraud losses fall because of technology and risk awareness
Posted by brianfpennington in brian pennington on 26/03/2012
The UK Card Association along with the Cheque & Credit Clearing Company, Financial Fraud Action UK and other industry groups has produced their report on UK fraud activities during 2011. The results released in March 2012 show, Fraud losses on UK cards fell 7% from £365.4m in 2010 to £341.0m in 2011, a ten year low. […]
RSA’s March Online Fraud Report
Posted by brianfpennington in brian pennington on 26/03/2012
In their March Online Fraud Report RSA reports on the activity of online fraudsters, full summary below. As well as the usual interesting statistics on fraudulent activity this report sheds light on the changes to the Zeus and Citadel Trojans as cybercriminals “migrating” from one Trojan botnet to another. FraudAction Research Lab has recently analyzed a Zeus 2.1.0.1 variant downloading […]
RSA’s February Online Fraud Report
Posted by brianfpennington in brian pennington on 12/03/2012
In their February Online Fraud Report RSA shed light on one of the latest Fraud-as-a-Service (FaaS) offerings to be purveyed in the criminal underground, a new release of the “Darkness”, aka “Optima,” DDoS bot crimeware; a commercially available toolkit that not only allows fraudsters to launch DDoS attacks at a target of their choice, but which has also […]
RSA’s January 2012 Online Fraud Report
Posted by brianfpennington in brian pennington on 27/01/2012
Below is a summary of RSA’s Jnauary 2012 Online Fraud Report:- PHISHING IS A NUMBERS GAME In 2011, approximately one in every 300 emails circulating the web was deemed to contain elements pointing to phishing. Most phishing content targeted the public sector, which was followed by the SME business sector. Compared with the total numbers of phishing […]
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