Brits' privates furtled in TWO-THIRDS of UK fraud cases
Keep your wallet close, keep your personal data closer
Two out of three fraud cases in the UK involved identity theft, according to Blighty's Fraud Prevention Service, CIFAS.
Brits are reminded to guard their private data as closely as they guard their wallets and purses.
The new figures suggest fraud rose to a record level in the UK in 2012 as more and more crooks obtained people's personal details and used them to pocket ill-gotten gains. Of the 248,325 fraud cases reported last year, 65 per cent involved stolen identities.
Crims gathered this sensitive information by hacking victims' computers, intercepting letters or carrying out other scams. Armed with this sensitive data, the thieves would typically hijack bank accounts and siphon off cash, or masquerade as their victims by creating new accounts in their names to then rip off companies.
On the plus side, individuals using their own accounts to commit fraud was down by 15 percent.
Kate Beddington-Brown, a spokeswoman for CIFAS - a nonprofit that tracks crime figures to help businesses and the public sector prevent fraud, said organisations are now "ensuring extra steps are taken to validate the identity of people with whom they are dealing". In the meantime, make sure you look after your own privates yourself. ®
Where does it go?
How comes that if I want to send money abroad the banks act like it is some arcane science and charge me extortionately, but thieves can do it easily?
Surely there must be a trail of where the money goes?
Re: Businesses have to prove their identity to customers too
I hate to tell you this, but banks fail to do this too. The only banks who can do this properly without disclosing your details to a 3rd party are those that use some challenge-response or OTP token, and *none* of them are set up for it.
Thus, the only route for you to talk to your bank is to call them. Unless someone comes up with a VoIP hack..
Businesses have to prove their identity to customers too
I kind lady with an Indian accent phone me and asked the same questions my bank asks to confirm my identity. She was unable to demonstrate the she worked for a company I had recently purchased from. When I called that company, they had no way to confirm my identity now that I was confident I was talking to the right person.
Which slug brained nitwit selected this easily exploitable procedure?