Experts predict Spike in Fraudulent Activity Due to Banking Turmoil

25 September 2008

An increase in fraudulent activity is likely to follow the recent events in the banking sector according to UK Company, First Cyber Security. Customers with internet banking accounts are urged to take care if asked to respond to emails from banks which have been named as being involved in the recent takeovers and mergers.

According to Director David Holman, “This is just the sort of confusion on which the fraudsters thrive. As these mergers and acquisitions continue in the banking sector, the consumer will expect to receive communications from their banks detailing name changes and giving them different websites to gain access to their internet bank accounts. Unless this is handled carefully it is a real opportunity for fraudsters to steal private information”.

Whilst many of us are wary of emails purporting to be from our banks, the latest APACs figures show that 18% of people who receive them still click through to links included in these mails, any of which could lead to the consumer being tricked into giving up personal data.

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