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Online banking fraud rockets as fraudsters get smarter
- From: Brian Warkoczeski
- Date: Thu Oct 08 12:18:03 2009
Online banking fraud rockets as fraudsters get smarter
Criminals are "never going to shut up shop", warns banking industry body
By Sophie Curtis
October 7, 2009
www.silicon.com
Online banking fraud jumped by 55 per cent during the first six months
of this year as criminals become even more sophisticated in their use of
technology.
Losses from online banking fraud hit £39m in the first half of the year,
despite a decrease in the overall amount of credit card fraud in the UK.
Banking industry body Financial Fraud Action UK warned that online fraud
is becoming increasingly sophisticated, with fraudsters targeting
customers using malware and phishing scams. The number of phishing
incidents rose by 26 per cent to 26,000 during the same six-month period
from January to June, according to the group.
But it also said online security measures, which require the cardholder
to enter a password when making purchases over the web, have contributed
to an 18 per cent reduction in the amount of phone, internet and mail
order fraud.
For rest of the article, see:
http://software.silicon.com/security/0,39024655,39563430,00.htm
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