eCommerce Journal - Learning more about virtual economy - News, Fraud

FCC warns about phishing attacks. Beware!

ayny — Fri, 05 Sep 2008 14:49:55 +0200

Recently the US Federal Communications Commission (FCC) has issued a public notice where it warned all the businesses about a new spam run impersonating its Fee Filer payment system.

“The Federal Communications Commission (Commission) has received complaints that nongovernment entities may be using Internet sites to misdirect parties seeking to submit their

Facebook is charged with the privacy violation

ayny — Fri, 15 Aug 2008 13:01:42 +0200

Facebook and a number of other companies such as Blockbuster, Fandango and Overstock are being charged with violating online privacy and computer fraud laws related to Facebook's controversial Beacon system in a class-action suit filed in California.

Beacon represents an application developed by Facebook that shares information about Facebook users' Internet activities with friends.

Identity thieves caught by US authorities

ayny — Thu, 07 Aug 2008 15:24:34 +0200

A global computer hacking and credit card fraud ring spanning the US, eastern Europe and Asia was uncovered by American authorities.

11 people from the US, China and three former Soviet republics were accused of stealing more than 40 million credit and debit card numbers and selling them to criminals in the US and Europe.

APACS warns against phishing mail

ayny — Fri, 25 Jul 2008 11:40:43 +0200

The figures reported by the UK payments association APACS show that online banking popularity underwent a significant growth among adult customers in the country increasing 505% from less than 3.5 million in 2000 to just over 21 million last year; while frauds related to online banking transactions decreased 33% in 2007 on a year-over-year basis.

Amalgamated forces to struggle against phishing in China

ayny — Thu, 24 Jul 2008 15:28:13 +0200

In Beijing a number of Chinese banks and securities

Intelligent cards in the fight against identity fraud

ayny — Thu, 24 Jul 2008 12:55:04 +0200

Fraud-resistant proof of identity technology is to be offered to merchants in Germany starting from November 2010 when current identity cards will be replaced by new national identity cards which means high increase of participants in online commerce.

In order to be eligible to use new identity proof technology online stores should apply for a certificate of entitlement from a government agency.

Vodafone will screen its users

ayny — Thu, 17 Jul 2008 09:38:35 +0200

Customers of Vodafone are to be screened via Datanomic's Director Sanctions/PEP (Politically Exposed Persons) Screening tool. The two companies signed the corresponding agreement.

Money Transfer service provided by Vodafone is intended for customers from developing countries and migrant populations who need the instrument for sending money back home. According to the figures reported by the statistics overseas migrants made money transfers amounting to $93 billion just to Africa alone.

Giants alliance against phishing

ayny — Wed, 09 Jul 2008 14:43:25 +0200

The worldwide internet auction giant eBay and the biggest online payment processor PayPal are starting "a collaborative effort with Google’s webmail service Gmail to better protect consumers against fraudulent e-mails and phishing attacks. Starting today, eBay and PayPal customers with Gmail accounts will have a safer e-mail experience because they will receive fewer fake e-mails claiming to be sent by eBay and PayPal."

Careless cardholders

ayny — Tue, 08 Jul 2008 08:57:51 +0200

According to the data from the latest reports by Saga the UK young cardholders are most likely to become victims of credit card fraud.

In view of high increase of credit card frauds for the past several years consumers are being constantly warned to be more cautious and careful when disposing their credit card accounts and information.

Attitude towards security issues

ayny — Mon, 07 Jul 2008 12:05:53 +0200

The latest data from the Unisys Security Index prompt that New Zealanders are more relaxed about security issues than most of the rest of the world.

On a globe level identity theft and financial fraud represent top concerns and take first or second place in the list of the surveyed range of security issues while in New Zealand the index has declined seven points since August 2007.

Fraud via an outstanding wire transfer company

ayny — Fri, 04 Jul 2008 10:11:58 +0200

Customers in the US are making complaints against scammers who use MoneyGram wire transfers to rob residents from Idaho and elsewhere from their money.

In view of the fact MoneyGram Payment Systems made a decision to fund a $1.1 million national consumer awareness program.

In addition to other measures MoneyGram is going to provide prominent warnings about fraud on forms people fill out when wiring their money. The forms will be available both in English and Spanish.

China set about levying taxes upon online merchants

ayny — Thu, 03 Jul 2008 08:00:35 +0200

All corporate entities or individuals in China having online businesses are required to register with the administration starting Aug. 1. The Beijing Administration for Industry and Commerce (BAIC) obliges online businesses making profit from their sales in the Internet to pay taxes. This is not to be applied to people who sell or swap personal goods not for profit.

Experiment to detect fraudsters’ activity

ayny — Tue, 01 Jul 2008 05:41:54 +0200

Latest report suggests that taking the advantage of the credit crunch scammers use financial spam to twist UK internet users and the risk is increasing.

As per the study a large number of fake outfits are functioning on the territory of the UK under the cover of offering pre-approved loans and credit cards.

Montreal trying to curb credit card fraud

ayny — Wed, 25 Jun 2008 11:48:58 +0200

In Canada the daily amount of funds to be withdrawn from automated banking machines will be reduced by the Bank of Montreal. The action is directed to decrease fraud cases.

Thus the previous limit that amounted to $1,000 will be cut to $500 per day, according to the statement of BMO director of communications, Ron Monet.

Insurance scam to be prevented in South Africa

ayny — Tue, 24 Jun 2008 13:54:05 +0200

US-based Clickatell is providing South African insurer, Santam, with mobile phone messaging technology to enable a text-based fraud reporting system.

People using the system will be able to anonymously report to Santam about an insurance scam via an SMS text message.

South Africans defrauded of their credit card scores

ayny — Mon, 23 Jun 2008 14:56:09 +0200

The drastic increase of credit card fraud in South Africa within the last three years resulted in millions of rand lost yearly by the consumers.

In order to steal scores of South Africans, scammers made online orders of credit card skimming devices from China which were imported later for their criminal plans.

Criminals producing fake plastic cards caught in Sri Lanka

ayny — Sat, 21 Jun 2008 15:12:58 +0200

A special CID team has arrested a sophisticated machine used for printing forged credit cards along with 4 suspects in Sri Lanka.

As per officials the information that helped in discovering the machine location was received during the interrogation of Neshanadan Muruganandan, working under the alias "Anandan", the alleged mastermind behind this international credit card scam.

Privacy trampled online in Kenya

ayny — Thu, 19 Jun 2008 09:36:54 +0200

Kenyaipos, an African website that was built to facilitate online share applications for Safaricom's initial public offering, was found insufficiently secure with investors.

At fist the site was gladly welcomed by investors as they thought it very conveniently is able to escape queuing for hours at the brokers' offices to apply for shares.

Single parents robbed online

ayny — Mon, 16 Jun 2008 11:06:28 +0200

Single parents availing of the EPPICard system to receive child-support payments are being warned by the US Federal Bureau of Investigation against contrivances of online scammers.

"Individuals have reported receiving email or text messages indicating a problem with their account.

Will your purchase come to your door?

ayny — Fri, 13 Jun 2008 14:10:37 +0200

It is now much easier for fraudsters to commit their criminal acts. Resorting to their numerous wiles they manage to deceive the equipment used by most e-retailers to verify the identity of cardholders so as to steal goods from the stores.

ID tool that is not easy to fake

ayny — Mon, 09 Jun 2008 13:00:19 +0200

A new anti-fraud device was developed and designed by Siemens in the shape of a fingerprint scanner.

The risks of online fraud are expected to be reduced at the expense of the technology assumed as a basis for the gadget which has a pocket size. Bank customers will be identified by the device when electronically reading their fingerprints.

Escrow companies robbing online shoppers of money

ayny — Fri, 06 Jun 2008 10:24:17 +0200

Scammers in Hawaii invent new methods to rob online consumers of their money. Scammers pose as fake escrow companies to have online shoppers to pay them for the purchases.

Usually escrow fraudsters resort to their tricks together with an online auction or Web site with classified ads.

Wales undertakes emphatic measure against online fraud

ayny — Thu, 05 Jun 2008 15:19:06 +0200

In Great Britain remedies against online crime is being developed by Wales. The problem draws close attention and is being approached on a serious level. Businesses in Wales have an operative instrument to rely on in case they need help and guidance which may be accessed due to e-Crime Wales program.

UK’s identity theft most unsecured area

ayny — Thu, 29 May 2008 11:19:05 +0200

As per official information one of the riskiest places in the UK for identity fraud is TEESSIDE postcode.

In Ingleby Barwick residents of TS17 5 are reported to be over four times more subjected to identity theft than the UK average.

It is esteemed as one of the places which are the most vulnerable to fraud outside of London - which remains the UK's identity fraud capital.

User of Google AdWords? Beware of phishing!

ayny — Wed, 28 May 2008 12:02:23 +0200

Bigmouthmedia, the digital marketing agency, has revealed that the users of Google AdWords are the potent ional victims of online fraudsters whose aim is to steal internet traffic and get access to the banking details of businesses and individuals.

Fraudulent actions will be eased in UK

ayny — Mon, 26 May 2008 15:04:58 +0200

The clearing period for a single transaction made over the internet or by phone will be shortened from three days to a few hours. This will be possible due to a new system to be launched on May 27. The service is to be known The Faster Payment system.

According to experts' warn customers may incur greater risk of being defrauded on account of the new system.

How does identity theft happen? Who knows?

ayny — Mon, 26 May 2008 13:36:13 +0200

Identity theft goes on its plague in many forms. It is very common today to think that identity theft is made mainly over the Internet and computers with the use of sophisticated technologies and tools. But as it turns out in fact more often it involves physical methods such as a stolen or lost wallet, a burglarized mailbox or someone you know ripping you off.

"Success" of fraud in 2007 by 'Which?'

ayny — Thu, 22 May 2008 16:40:54 +0200

Insufficient application of security system abroad increased the number of cases of frauds committed on credit and debit cards, which is high enough as it was.

Consumer magazine "Which?" reports, fraud on plastic cards was up by 25 per cent over the course of 2007.

Britons’ concerns about online payment security

ayny — Thu, 22 May 2008 15:35:35 +0200

Unisys conducted a survey on the security of online transactions and released a report named Security Index. As per report, 86% of nearly 1,000 Britons surveyed are concerned about violation of their financial information.

Data security headache

ayny — Thu, 22 May 2008 13:53:51 +0200

A new survey conducted on financial information security reveals that in spite of the customers' recognition of their role in protecting their information vulnerable to theft most of them go on neglecting the necessary safety measures, and what's more, they still keep on blaming their banks for financial data breaches.