Showing posts with label internet fraud risk. Show all posts
Showing posts with label internet fraud risk. Show all posts
Thursday, May 24, 2012
Romance Scam and Internet Fraud Infographic Reveals Risk

Are You Safe Online? The Statistics Tell the Story     

Internet Fraud and Scams
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Romance scams and internet fraud are now impacting individuals and economies around the world. Law enforcement, governments and private enterprise have yet to find an effective way to combat the growing problem. As internet users become more aware of the risks, criminals become more savvy at scam techniques used to steal your money. Scam and fraud methods range from romance scams, investment scams, identity theft and business fraud. Some private investigators and fraud experts caution that the situation is spiraling out of control. What is certain, is that as more people connect and begin relationships online, there is greater risk for misrepresentation and fraud. Wymoo® International has released an important infographic revealing the global impact of this trend.

Below are just a few alarming statistics from the research:

These numbers represent only a small fraction of the actual numbers worldwide, as most victims do not report the crime to authorities because they feel too embarrassed.

There are over 200,000 romance scam victims each year in the U.K., from dating and social networking sites.

Identity theft costs the United Kingdom over $2.7 billion pounds a year, and results in over 1.8 million victims a year, according to the National Fraud Authority.

The Office of Fair Trading in the U.K. reports there are over 3 million British victims a year.

Annually, there are more than 10 million victims of identity fraud in the United States, resulting in financial losses of over $50 billion USD in the U.S. in 2011 alone.

The FBI sponsored website, IC3.gov, received complaints from romance scams reporting losses of over $50.4 million USD in 2011, and only a small percentage report the crime.

Most internet criminals make contact with victims through online dating sites and social networking sites, such as Match.com and Facebook and countless others worldwide.

One in three internet users worldwide regard the web as a good place to find a partner. However, an estimated 25% of all internet profiles contain false data or photos.

There are now over 1,500 online dating sites in the United States alone.

In Australia, there are over 800,000 scam and fraud victims annually. These crimes result in over $1 billion USD in losses each year, according to the Australian Bureau of Statistics.

In Australia, government officials estimated that only 2.5% of all internet crimes are reported.

According to the Canadian Anti-Fraud Centre, only 5 percent of all victims report the crime.

Investigation companies like Wymoo and internet privacy advocates urge consumers to guard their private information and avoid posting personal information on the internet, whenever possible. Think twice before “sharing” personal data online, and know that no site is 100% immune from fraud and scams. The smaller your internet footprint the better, say investigators. Law enforcement agencies are increasingly working cases where the criminal obtained information about his victim via the internet. The more data a criminal can find about you, your age, date of birth, address and place of employment, the easier it is for you to be a victim. Stay safe. Know the risk, and when in doubt, consult a reputable private investigator for a discreet background check.

Stay skeptical and safe online.  Verify first, then decide.

Best of luck,

A Hathaway
© 2012 A Hathaway


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Wednesday, May 16, 2012
U.K. Private Investigators See Internet Fraud Risk Growing

 

In the United Kingdom, 3.5 million people have been victims of fraud and scam over the internet and the average amount of money lost per person is £875.  Most of these scam victims were targeted when shopping online, phishing scams or online dating or romance scams.  Experts say the reported cases are far lower than the actual numbers, as most victims feel too ashamed to report the crime to authorities, and it is estimated that only 1 out of 5 victims report internet crimes to the police or government.  As a result, governments don’t know how serious the problem has become.  Private investigators, on the other hand, are overwhelmed with requests. While the government is considering internet security a top priority, the population still believes it is its own responsibility to stay safe while surfing or connecting online. Most users think they know the basics of internet safety to keep away from scams, but statistics indicate otherwise.

U.K. investigators confirm that one of the main reasons internet users are hacked is because of the careless attitude they have over their passwords, making accounts easy to hack. Bank and financial institutions report that there should be a co- responsibility between the institutions and the users, and some users claim that internet providers should also share responsibility for protecting consumers.  The blame and finger pointing goes around,  as no one wants to take the responsibility, and no one yet knows how to effectively deal with the growing problem.

Truth is that the same amount of precaution should be taken online just as when you walk to an ATM or the physical bank itself. You don’t share your PIN or account number with anyone, therefore online should be the same. And even some people believe they know the basics to be safe online while doing any transactions involving their finances and banking, there is a high number of users that cannot tell the difference between a bogus phishing email versus an official email.  And as criminals improve their methods, sometimes there is no way to be sure.

Bankers recommend that whenever you get a communication from any bank institution you are related with, to always verify if it is legitimate by calling the bank to confirm. Some cyber criminals send emails pretending to be a bank, charity or financial institution to get users account information very easily. In other cases, internet criminals may target victims on online dating sites and social networks, where internet users throw caution to the wind, and “share” everything that criminals need to steal your identity.  Consumers should guard their personal data, and keep it off the internet as much as possible.  The more personal data about you on the internet, the higher your risk.

U.K. private investigators recommend always verifying your contacts and relations whether over the internet or in person and to conduct international background checks to verify any person or business overseas.  The risk for fraud is growing, so stay vigilant and verify. 

Best of luck,

A Hathaway
© 2012 A Hathaway

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