Showing posts with label card fraud. Show all posts
Showing posts with label card fraud. Show all posts

Friday, 31 August 2012

Is your data lost?




Recent disclosures from the Information Commissioner’s Office reveal alarming statistics concerning data breaches in the UK. This information was issued under a request to the Freedom of Information Act showing a tenfold increase in data breaches in the past five years. The only good aspects of this report show that organizations are reporting many more breaches.

Tero Pollanen, international fraud prevention specialist has been preaching the importance of being aware of the dangers of data breaches as well as prevention. The word is getting out as demonstrated by ICO statistics that awareness of legal requirements of an organization to secure information and imposing large fines of companies that “lose” information is precipitating positive change. The telecom sector has seen a decrease in the number of data breaches over the past five years.

The ICO offers a wealth of support and guidance to organizations across the UK. New data suggests the both the health service and government sectors are also responding to positive change and are now expected to report serious breaches involving sensitive data and/or large volumes of personal data to the ICO. Mr. Tero Pollanen reminds us both to be vigilant and to encourage additional sectors to work with the ICO in reducing data breaches.

Friday, 21 October 2011

Welcome to the Fight Card Fraud Blog


Credit card fraud is a wide-ranging term for theft and fraud committed on a credit card or any similar payment mechanism. The purpose may be to obtain goods without paying, or to obtain unauthorised funds from an account. Credit card fraud is also an adjunct to identity theft. According to the Federal Trade Commission, while identity theft had been holding steady for the last few years, it saw a 21 percent increase in 2008. However, credit card fraud, that crime which most people associate with ID theft, decreased as a percentage of all ID theft complaints for the sixth year in a row.[1]
The cost of card fraud in 2006 were 7 cents per 100 dollars worth of transactions (7 basis points).[2] Due to the high volume of transactions this translates to billions of dollars. In 2006, fraud in the United Kingdom alone was estimated at £535 million,[3] or US$750–830 million at prevailing 2006 exchange rates.[4]


On this page I will post interesting news and advice how to fight or recover from credit card fraud