Feeds

Average chump in 'bank' phone scam is STUNG for £10,000 - study

Get Safe Online launches campaign against 'social engineering'

Protecting against web application threats using SSL

UK consumers have lost more than £21m to "social engineering" scams where fraudsters impersonated bank employees and tech support since the beginning of the year, according to GetSafeOnline.

A range of tactics including phishing emails, fraudulent phone calls asking for personal or financial information or phone calls from fraudsters impersonating computer technical support agents have been used to defraud punters. So-called voicemail phishing (or visiting) in particular is having a big impact.

According to Financial Fraud Action UK, approximately 23 per cent of people in the UK have received a cold call requesting personal or financial information.

In the first five months of this year alone, some of the UK’s main high street banks have reported losses of over £21m from voice phishing (or "vishing") attacks on their customers, with over 2,000 attacks resulting in an average loss of over £10,000 per victim, according to ‪GetSafeOnline.‬

The UK gov and industry-backed non-profit is seeking to raise awareness of these scams through a new campaign, launched this week, featuring videos and tips on how consumers can avoid becoming a victim of social engineering.

Elsewhere new statistics have revealed that ‪one in four UK consumers ‬(28 per cent) ‪have experienced card fraud in the last five years - the highest in Europe. The figures comes from a survey of 6,100 in 20 countries by payment processing firm ACI worldwide.‬

The study, run by ACI and industry analyst Aite Group, found that 23 per cent of consumers changed financial institutions due to dissatisfaction after experiencing fraud. Nearly half (43 per cent) of cardholders who received replacement cards as a result of a data breach or fraudulent activity in the past year used the new card less than they did the original, another statistic that suggests fraud hurts banks as well as hugely inconveniencing the individuals stung by all-too-commonplace financial scams.

The UAE has the highest rate of fraud overall at 44 per cent, followed by China at 42 per cent and India and the United States at 41 per cent each. ®

Reducing the cost and complexity of web vulnerability management

More from The Register

next story
Spies would need SUPER POWERS to tap undersea cables
Why mess with armoured 10kV cables when land-based, and legal, snoop tools are easier?
Early result from Scots indyref vote? NAW, Jimmy - it's a SCAM
Anyone claiming to know before tomorrow is telling porkies
Apple Pay is a tidy payday for Apple with 0.15% cut, sources say
Cupertino slurps 15 cents from every $100 purchase
Israeli spies rebel over mass-snooping on innocent Palestinians
'Disciplinary treatment will be sharp and clear' vow spy-chiefs
YouTube, Amazon and Yahoo! caught in malvertising mess
Cisco says 'Kyle and Stan' attack is spreading through compromised ad networks
Hackers pop Brazil newspaper to root home routers
Step One: try default passwords. Step Two: Repeat Step One until success
China hacked US Army transport orgs TWENTY TIMES in ONE YEAR
FBI et al knew of nine hacks - but didn't tell TRANSCOM
Microsoft to patch ASP.NET mess even if you don't
We know what's good for you, because we made the mess says Redmond
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Security and trust: The backbone of doing business over the internet
Explores the current state of website security and the contributions Symantec is making to help organizations protect critical data and build trust with customers.