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Common Fraud Against People

Approving Fraud

Posted by on 12:05 pm in Common fraud against people, Mobile Fraud | 0 comments

Approving Fraud

Figures from UK Finance – a trade association representing the UK finance and banking industry – revealed more than 19,000 people were targeted by Authorised Push Payment (APP) scams in the first half of 2017. The fraud has cost customers more than £100 million, with an average loss of £3,000 for consumers and £21,000 for businesses. Wrongful authorisation An APP scam occurs when criminals trick victims into sending money directly from an account to one owned by fraudsters. Victims are convinced by: Scammers impersonating bank...

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Fighting app install fraud

Posted by on 2:49 pm in Common fraud against people | 0 comments

Fighting app install fraud

More than a million people have been tricked into downloading a fraudulent version of WhatsApp. Titled “Update WhatsApp Messenger”, the app appeared completely genuine. Instead it flooded users with ads and persuaded them to install other programs. User-enabled App fraud cases are growing because they are increasingly simple to fake. Update WhatsApp Messenger used the official WhatsApp logo, appeared to have been developed by WhatsApp Inc. – the creators of the official app – and had a user rating of 4.2 stars. To achieve this,...

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Wangiri: the one ring scam

Posted by on 11:41 am in Common fraud against people | 0 comments

Wangiri: the one ring scam

Irish mobile users are experiencing an increase in Wangiri fraud. Mobile users will miss a call and when they return it accrue a large phone bill. In April, New Zealand had a similar wave of Wangiri fraud, originating from Poland and Chad. Mobile providers and police issued warnings, but the fraud proved effective and cost users hundreds of dollars. The fraud has now reached tens of thousands of Irish mobile users. Common fraud Japanese for ‘one ring and cut’, Wangiri refers to the fraudster’s desire to receive a call back. Fraudsters...

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Smartphone hacks for dummies

Posted by on 9:50 am in Common fraud against people, Mobile Fraud | 0 comments

Smartphone hacks for dummies

More than 40% of European consumers use mobile banking on their smartphones. While apps such as mobile banking and payments have helped simplify personal finance management, they also require a user’s personal information. Most banking apps have software that verifies a user’s identity when they log in, often using financial companies like Payfone to verify the mobile being used. However, not all apps have up-to-date security features, leaving mobile phones vulnerable to hackers. Outsmarting the competition Fraudsters use scams to gain...

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Equifax: after the attack

Posted by on 9:11 am in Common fraud against people | 0 comments

Equifax: after the attack

On September 7th 2017, Equifax – a consumer credit reporting agency – announced it had been hacked. 143 million American citizens had their data exposed, and 400,000 people in the UK were at risk of a similar fate. Public data Following the cyber-attack, Equifax revealed a file containing UK consumer information may have been breached. The file included personal information such as names, dates of birth, email addresses and telephone numbers. Equifax’s UK system had not been affected by the cyber-attack, but information on British...

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Tech support scams: a new wave

Posted by on 1:38 pm in Common fraud against people | 0 comments

Tech support scams: a new wave

The internet contributes 10 per cent of gross domestic product (GDP). When devices break or slow down, users are often desperate to get computer issues fixed as quickly as possible. This urgency is leaving people vulnerable to a new wave of tech support scammers. An estimated 3.3 million US consumers lost $1.5 billion last year to tech support scams, with just under half of victims aged 18 to 34. How does a tech support scam work? Tech support scammers send a false alert to a victim’s computer, reporting an issue that needs their immediate...

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A case of stolen identity

Posted by on 7:58 am in Common fraud against people, Future fraud | 0 comments

A case of stolen identity

A report from Cifas – the UK’s dedicated fraud prevention service – has found that a record 89,000 cases of identity theft occurred in the first half of this year. Identity fraud has now reached epidemic levels, up 5% on the same period last year. The situation A new wave of identity theft is taking place primarily online, where personal information can easily be found. No contact takes place between the fraudster and victim and most victims are not even aware their identity has been stolen. Often it is only when victims apply for loans,...

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Smishing: a new route for an old trick

Posted by on 2:00 pm in Common fraud against people, Mobile Fraud | 0 comments

Smishing: a new route for an old trick

Scam artists are moving away from calling phones and targeting victims through text messages instead. Their new method: Smishing (SMS-Phishing). What is Smishing? Smishing works in much the same way as a contemporary phishing e-mail, but the scam is sent by Short Message Service (SMS) messages instead. Preying on people’s panic and sense of urgency, fraudsters send out text messages to victims. They pretend to be close friends, employees or even their banks. With simple techniques, the victim is made to believe the text message is genuine,...

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Why fraud evolves, and how to address it

Posted by on 8:51 am in Common fraud against people, Mobile Fraud, SIM box fraud | 0 comments

Why fraud evolves, and how to address it

Fraudsters are business people. When one route to generate revenue is closed, they will open another. Equally, when one issue for a network operator disappears, it is commonplace for that revenue loss to move to another method of fraud, rather than disappearing entirely. For the network, it does not matter if they are experiencing SIM Box fraud or OTT hijack- each type of fraud will impact their revenue negatively. Operators are under increasing pressure to invest in the networks that we have all come to rely on, with many telecommunications...

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SIM swap fraud: simply stealing

Posted by on 10:35 am in Common fraud against people, Mobile Fraud | 0 comments

SIM swap fraud: simply stealing

According to the U.S. Fairtrade Commission, cases of SIM swap fraud have increased by more than 150% since 2013. Now, with more than 2,658 cases a year, the fraud is becoming increasingly popular for its sheer simplicity. But what is it exactly and how can it be prevented? SIM swap fraud SIM swap fraud is a method of gaining access to bank accounts, credit card numbers and other personal data. It involves a scammer impersonating their victim and convincing their mobile network to activate a new SIM card. Effectively, it gives fraudsters...

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