A widely-held suspicion that UK banks are covering up the true scale of cybercrime has been confirmed by the City of London Police chief Adrian Leppard, who says that up to 80% of online crime goes unreported to the authorities. Speaking at a Tech UK conference, Leppard says that the vast gap between what is […]
Category: Latest Fraud News
Ticket fraudsters operating using social media
People who take pictures of their tickets before they actually attend an event and post them on social media website are actively being sought by fraudsters. Fraudsters are then using these pictures to make counterfeit copies. Fans may not be aware of how much information there actually is on a ticket, including their name and […]
Majority of chargebacks are fraudulently placed
Global Risk Technologies, a leading technology company specialising in chargeback compliance, today releases a new white paper examining the threat of friendly fraud in Card-Not-Present (CNP) transactions and examines why this problem continues to get worse. E-commerce is growing at close to 20% per year in the EU, while total ecommerce revenues are predicted to […]
British tourists conned out of £2.2million
British tourists were conned out of £2.2million last year after falling victim to bogus holiday letting websites and other internet-based scams, a new report has revealed. Unsuspecting holidaymakers lost hundreds or thousands of pounds each after booking a villa or flat, only to arrive and find out that the holiday home doesn’t exist or had […]
1 hacker a month convicted out of 100,000
Experts warn that police are failing to tackle the staggering rise in online crime in the UK, including online stalking and theft of personal data. New figures revealing the true number of offences only came to light when Home Office ministers were forced to divulge the information last month. On average just one person was […]
Online banking fraud up by 48%
Losses from online banking fraud rose by 48% in 2014 compared with 2013 as consumers increasingly conducted their financial affairs on the internet. The rise is due to increased use of computer malware and con-artists tricking consumers out of personal details, Financial Fraud Action said. In addition, fraudsters are targeting firms in order to steal […]
Police challenge govt to tighten net on cybercrime
The Metropolitan Police and Mayor of London should lead a London-wide campaign during 2015-16 to draw attention to the threat of online crime. According to a report by the Police and Crime Committee, the Met should identify a senior ranking officer to be responsible for mainstreaming cyber crime action across the whole of the force, […]
85% of fraud and cybercrime unreported
City of London Police warns that the overwhelming majority of crimes perpetrated by online hackers are never even reported, let alone prosecuted, with losses totalling billions of pounds. In a new report, the police group, which leads the way in tackling fraud and internet-based crime in Britain, says that official data “vastly underestimates” the problem […]
UK online banking fraud losses soar 48%
Online banking fraud jumped 48% to £60.4 million in 2014, according to figures put together by Financial Fraud Action UK (FFA UK), which blames the rise on malware and confidence tricksters. However, with just 53192 actual incidents of online banking fraud losses in the year, the FFA says that the problem is “relatively modest” for […]
Men, 46, most likely fraud victims
Sophisticated identity theft “on an industrial scale” is on the rise with a 46-year-old man the most likely victim, a new report says. Recorded fraud was up by 25% last year compared with 2013, according to fraud prevention service Cifas. ID fraud accounted for 41% of all fraud. Digitally-savvy young adults were increasingly becoming targets. […]
Fraud up by a quarter & increasingly organised
Annual fraud release shows continued threat of identity theft as young adults increasingly targeted. Recorded frauds increased by 25 per cent last year, according to the latest report from the UK fraud prevention service, Cifas, published today. In total there were 276,993 frauds recorded in 2014, compared to 221,075 in 2013. Link to article
Airbnb scam cost me £920
I was recently the victim of a scam via Airbnb’s website when booking an apartment in Barcelona. While browsing through the accommodation offers, I used the red “contact the host” link to send an email to the owner of an attractive apartment. The owner was listed as being “verified” on the site. The apartment owner, […]
The UK’s 10 most infamous data breaches
Software vulnerabilities, lost hard drives and CDs, malicious insiders, poor security – the UK’s most important data breaches reveal just how many ways data can be put at risk. It’s tempting to believe that important data breaches only happen in the US and the figures tend to bear that out – the US accounts for […]
5 cloud data issues exposed
Skyscape Cloud Services has released a white paper that looks to address the issues of data location and security. Skyscape state that while fewer breaches happen on cloud platforms, when they do – they make the news. One of the big concerns for the company is data which is stored offshore, with either US or […]
Tightening the net
The City of London Police, the National Lead force for fraud, contributed to the assessment conducted by the London Assembly in the lead up to the release of today’s report entitled ‘Tightening the net’ which looked at the Metropolitan Police’s response to online theft and fraud. The report found that an increasing amount of crime […]
Four jailed in £20 Million money laundering case
Today (Monday, 16 March) at the Old Bailey four men were sentenced to a total of 21 years and two months after they all pleaded guilty for their involvement in laundering millions of pounds of criminal assets abroad. Abdullah Rahim 34, from Lewisham received six and a half years after pleading guilty to laundering nearly […]
Prepaid card usage tipped to surge
Trends in consumer spending indicate that 2015 will be the year of the ‘prepaid economy’, according to financial industry experts, as consumers increasingly reject credit cards, seek greater protection from online fraud and switch to new ways to access services such as public transport. New figures show that UK has seen an explosion in the […]
Government earmarks extra £250k to tackle e-crime
Trading Standards awarded additional cash to crack down on copycat websites, phishing and online fraud. The government is giving extra funding to the National Trading Standards Board to help it crack down on copycat websites masquerading as legitimate government services which leave unwary consumers thousands of pounds out of pocket. A sum of £250,000 was […]
Frauds worth £12bn go unreported
The true scale of crime in Britain is far higher than previously thought because 85 per cent of fraud and cybercrime goes unreported, official figures have revealed for the first time. Figures from the City of London Police – which has a national lead on tackling fraud – showed an estimated 1.2 million crimes were […]
The benefits of Bitcoin in travel
It comes as no surprise that airlines and travel companies are constantly looking for ways to lower their costs. By accepting payments in the digital currency bitcoin, an increasing number of online travel merchants and airlines are achieving just that. Most people are unaware of the costs associated with accepting card payments online, airlines often […]