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Fraud. Know what to look for, how it can affect you and what to do to help prevent it.
The Scheme
When a criminal can obtain your personal information or login data, they can sign up for credit cards, transfer money and complete other transactions to steal money, all while posing as you. Online, this type of fraud is often achieved via phishing scams, malware forcefully installed on your computer and phony websites made to look legitimate so they can steal your log-in credentials.
The Impact
Of the businesses that detected a fraud attempt in 2012, 71% reported that the scheme was an online account takeover with a fraudulent money transfer. (RSA-2013 Fifth Annual Online Fraud Benchmark Report)
Implement common-sense prevention strategies such as:
The Scheme
As technology progresses, fraudsters enjoy easier access to equipment for producing fake checks. Such "bad checks" often accompany lottery scams, check overpayment scams, internet auction scams and secret shoppers scams. Check washing involves erasing details from a legitimate check. Once cleared of its details, criminals can use a washed check to make fraudulent withdrawals and other types of theft. These checks are most frequently stolen out of mailboxes when someone sends a bill payment.
The Impact
In 2013, 82% of organizations experienced actual or attempted check fraud. (2014 AFP Payments Fraud and Control Survey) For businesses that experienced attempted or actual payment fraud in 2012, 43% cited credit cards as the method used. (2014 AFP Payments Fraud Survey)
Implement common-sense prevention strategies such as:
The Scheme
Criminals have advanced methods for stealing credit card data virtually. Once they have the information, they proceed to spend your money through either withdrawals or purchases. Credit card theft is one the most prevalent methods of fraud and can usually be attributed to a fake website where you attempt to make a transaction or phishing.
The Impact
65% of organizations detected transactions executed with their stolen credit cards in 2013. (RSA-2013 Fifth Annual Online Fraud Benchmark Report) For businesses that experienced attempted or actual payment fraud in 2012, 43% cited credit cards as the method used. (2014 AFP Payments Fraud Survey)
Implement common-sense prevention strategies such as: