Wednesday 5 May 2010

Survey Reveals Massive Incidence of Credit Card Fraud and Identity Theft Retailers blamed for making people vulnerable to fraud


Working in internet security I am always concerned that the online communities and retailers are not protecting their users and the results of this survey conducted on 26th April 2010 confirm my worst fears.

The researchers at Infosec have published a survey of 1000 commuters in London that has found that a tidal wave of credit card fraud and Identity theft is sweeping the UK:

  • 44 % of people said they have suffered from bank/credit card fraud
  • 42% have had their identity stolen.
  • the average amount stolen was £1448 per person,
  • 37% overall did not get their money back from the bank.
The research shows that people that lost a small amount of money were far less likely to get their money back from their bank than people who lost a large amount of money with 91%of people who lost more than £5000 getting their money back compared to only 41% of people who lost less than £100.

Who do Consumers Blame?

  • Retailers 60%,
  • Banks 12%
  • Own Fault 28%

The place that people said that they were most likely to have their details stolen from was online via websites or email.

Claire Sellick Event Director for Infosecurity Europe said, “The incidence of bank/credit card fraud and ID theft is very high, perhaps this is not surprising given how ingenious criminals have become. This is particularly true for online transactions and interactions as people are easily duped by offers that seem too good to turn down, pass on their details due to email phishing scams, act on phone calls from people claiming to be from their bank, or failing to check what post they throw away. There is a constant battle between the criminals and security experts and Infosecurity Europe is the event where the people who protect us all come to gain an insight into the latest technology and services to keep us safe from the criminals.”

Read the full account below.

http://www.eskenzipr.com/page.cfm/T=m/Action=Press/PressID=632

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