“There must be some
mistake. I just put money into my account this morning,” argues the customer in
the check-out line. Yes, you are right about a mistake, but not in the way you
thought. “The mistake,” says Tero Pollanen, international internet fraud specialist, is “complacency.”
Identity fraud is on
the increase, up 5% in the last 6 months of 2011 and up
9% from 2010. It now
accounts for 50% of all fraud crimes. Identity fraud on a personal level is
extremely disruptive to one’s life and can take years to repair the damage to
credit ratings. It is up to the individual to convince the financial
institutions that new credit files are incorrect.
Phishing scams are
everywhere in addition to new and smart ways in which crooks can dupe
unsuspecting victims into handing over their financial information. Criminal
gangs work by setting up web sites pretending to be the victims’ financial
institution. An email requesting “your annual update” sends the unsuspected to
the phony site. Another method is a phone call “from the institution”
requesting updates or even pin numbers.
As in any crime
prevention, we must be aware of how we may become a target. Good common sense
is always the first line of defense. Don’t be complacent to the point where it
cannot happen to me. It can: be aware!
Ref.: http://online.wsj.com/article/SB10000872396390444508504577593243972975650.html
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