Monday, April 26, 2010

Survey Reveals Massive Incidence of Credit Card Fraud and Identity Theft

According to CreditMan.com, recently completed survey of 1000 commuters in London has found that a tidal wave of credit card fraud and Identity theft is sweeping the UK.



44 % of people said they have suffered from bank or credit card fraud and 42% have had their identity stolen. 




According to researchers from Infosecurity Europe, the number one dedicated Information security event which takes place at Earls Court, London this week, the average amount stolen was £1448 per person,(almost $2000 US) and...ready for this?  




 37% overall did not get their money back from the bank
.



Wow...that number seems (approximately) 37% higher than what banks and card companies would have you believe...



...as they continue to tell you it's okay to type a username/ password into a box on the bank's website, (after all, it's SSL encrypted and we all know how safe that "isn't" ...see related articles below) or type your credit/debit cards Primary Account Number (PAN) into boxes on internet retailers websites.



The place that people said that they were most likely to have their details stolen from was, "
online via websites" or email with a quarter (27%) saying that this was how they were duped...



So if you are of the mindset that you are financially protected by your bank when you become a victim of card fraud, (which is what will ultimately happen if you continue to "type" your card numbers into a box in a web browser) here are some numbers that will readily blow your mind(set).




Detailed breakdown of size of losses and likelihood of recovery are as follows:



13% of people had more than £5000 stolen with 1 in 10 not getting their money back from the bank



19% of people had between £1,001 to £5,000 stolen with a fifth not getting their money back from the bank



21% of people had between £501 to £1,000 stolen a third not getting their money back from the bank



12% of people had between £100 to £500 stolen with half not getting their money back from the bank



34% of people had less than £100 stolen with 56% not getting their money back from the bank 




Read More



Infosecurity Europe, visit
www.infosec.co.uk. The event takes place at Earls Court, London, from 27th–29th April 2010. For FREE entry and further information about Infosecurity Europe, visit the website and register today to avoid a £20 entrance charge.








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