Feeds

Online fraud could dent economies

Let's be careful out there

  • alert
  • submit to reddit

5 things you didn’t know about cloud backup

A bigwig in the US Secret Service has warned that online fraud poses a real threat to a nation's economy.

Speaking at the RSA Security Conference in San Francisco Ralph Basham warned that hackers and criminals are teaming up to steal private financial information from companies and individuals.

"There is no longer any doubt about that threat. With just a few key strokes, [online fraudsters] can disrupt our nation's economy," Reuters quoted Basham as saying.

Earlier this week a US credit data company admitted that fraudsters accessed records on up to 35,000 people last October and may have stolen credit reports, Social Security numbers and other sensitive information.

Georgia-based ChoicePoint Inc. said thousands of Californians were hit by the fraud although it admitted that the "number of victims nation-wide could total 100,000".

Two weeks ago the US Federal Trade Commission said that Americans reported fraud losses of $548m during 2004. Of these 635,173 complaints, 246,570 concerned ID theft and 388,603 were about other forms of fraud. ®

Related stories

Fraudsters expose 100,000 across US
Banking Trojan disables MS Anti-Spyware
UK firms warned of corporate hijack risk

Next gen security for virtualised datacentres

More from The Register

next story
Snowden on NSA's MonsterMind TERROR: It may trigger cyberwar
Plus: Syria's internet going down? That was a US cock-up
Who needs hackers? 'Password1' opens a third of all biz doors
GPU-powered pen test yields more bad news about defences and passwords
Microsoft: We plan to CLEAN UP this here Windows Store town
Paid-for apps that provide free downloads? Really
e-Borders fiasco: Brits stung for £224m after US IT giant sues UK govt
Defeat to Raytheon branded 'catastrophic result'
Hear ye, young cyber warriors of the realm: GCHQ wants you
Get involved, get a job and then never discuss work ever again
Chinese hackers spied on investigators of Flight MH370 - report
Classified data on flight's disappearance pinched
Microsoft cries UNINSTALL in the wake of Blue Screens of Death™
Cache crash causes contained choloric calamity
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Top 10 endpoint backup mistakes
Avoid the ten endpoint backup mistakes to ensure that your critical corporate data is protected and end user productivity is improved.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
Rethinking backup and recovery in the modern data center
Combining intelligence, operational analytics, and automation to enable efficient, data-driven IT organizations using the HP ABR approach.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.