Be careful of Fraudsters.
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Author: Joe Murphy
Fraudsters are constantly devising new and more ingenious ways to take our money. As for those controls: are they good enough and does everyone comply? Fraudsters are betting, this quaint request will appear reasonable to most people, encouraging them to follow through with it. As soon as they receive the copy of the receipt, the fraudsters would walk into the nearest branch of the wire transfer agency, sporting a false-id of the person to whom the wire was originally sent. Fraudsters are estimated to make some 40 billion dollars a year in the US. According to United Nations figures, an average 7.7% of the population of industrialized European countries fall victim to fraud each year.
Fraudsters are targeting businesses who sell natural health products and supplements. Orders are being placed for products to be sent to Ghana and Indonesia. Fraudsters are making more use of mail redirection services in order to redirect a prospective mark's post to a drop address, an approach used in 36 per cent of cases. Present address fraud, previously the most common tactic, declined to 46 per cent from 30 per cent in the second half of last year. Fraudsters are getting smarter as they find the trends in the scamming industry.
Identity fraudsters pretend to be you, steal your personal details and use them to buy goods and services in your name. Last year there were 65,000 cases of identity fraud. Identity theft also only covers the costs associated with identity theft involving credit fraud . The policies won't help if someone has committed a criminal offense, incurred a traffic ticket, or owes taxes in your name.
Identity thieves can also be found around the world. Through online illegal chat rooms and Web sites, fraudsters are able to purchase identities for as little as $1. Identity Theft is reported to be the world's fastest growing crime. In the past, fraudsters would trowel through rubbish bins and letterboxes looking for documents with personal information.
Online fraudsters and affiliates are defrauding online advertisers. That is an excellent financial motive to plant questions and answers that helps generate residual income, for years, forever. Online dating scams and fraud are almost as old as Internet dating itself. Often called a Sweetheart Swindle this is often a long, drawn out process in which the con artist develops a relationship, and eventually convinces the victim to send money.
Fraud management should be recognised as a discipline distinct from credit risk management. Fraud management benefits from some of the methods applied in the wide field of risk management but is rarely matched in terms of complexity, pace and sophistication. Fraudsters can set up scripts to automatically run through your checkout process until an order is accepted. Oftentimes this allows fraudsters to determine if the credit card information is valid. Fraudsters understand what motivates their targets. Instead of working in a vacuum trying to decide what your customers need - and refining when you find out you've guessed wrong - work with development partners.
Fraudsters don't care who they injure or what company they wreck. I have been there and done that, not a as a fraudster but a victim and I've paid for the crimes of those who've done so without my knowledge. Fraudsters will try to create a sense of urgency, for instance that you will lose the ability to use your card if you don't comply with instructions. Do not fall for this. Fraudsters registered domains that combined those financial brands with the focus terms at the rate of more than one domain per day between September 2008 and April 2009. Phishing attacks against the four financial brands numbered 10,000, representing a 36 percent increase in Q1 2009 from the previous quarter.
Fraudsters may try to redirect your mail without your permission. If you suspect your mail is being stolen or whether a mail redirection application has been made in your name without your knowledge contact Royal Mail Customer Care on 08457 740740. Fraudsters have several ways of obtaining e-mail addresses. Firstly they make use of special software to extract e-mail addresses from websites.
Credit card fraud is a vicious attack on both the victim and the entire banking system. These people are not fraudsters, fraud gangs and "mules", but are criminals who could care less what it costs the individual or the banking system. Credit card fraudsters are having to up their game and are becoming ever more ingenious with the scams they try to pull off. As a UK credit cardholder you need to staying on your toes and ahead of the game.
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