CyberSource, a payment management company working in e-commerce and providing a fraud management system has published its latest report: UK Online Fraud Report 2012.
The report is a mine of statistics on the extent and breakdown of online fraud. One of the key and unsurprising conclusions that can be drawn from these statistics is that fraud is too high, and that fraud screening technologies should be better employed. For example, 61% of merchants have a manual review element to their transaction process. Where this exists, even with the existence of the automated fraud screening system, more than one in five transactions are taken out of the system for that manual review.
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The UK government has published its long-awaited cybersecurity strategy plan, detailing the gameplan for UK PLC and the internet over the next four years.
Entitled `The UK Cyber Security Strategy: Protecting and Promoting the UK in a Digital World’ the paper outlines the four main pillars of action it wants the private and public sector to adopt in the run-up to 2015.
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Reported fraud in the UK during 2011 increased by 50% to stand at more than £2bn. Both the number and average value of reported cases also rose.
These are the findings of accountancy firm BDO’s annual FraudTrack report. It highlights the five primary types of fraud that account for more than 85% of the total: tax fraud (rising to 36%), supplier/customer fraud (rising to 30%), employee fraud (down to 10%), corruption (rising to 4%), and management fraud (down to 5.5%).
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Theresa Stevens, a resident of Beaumont, Texas, filed a class-action compliant in federal court in Louisville, Ky., against Amazon.com for failing to protect the personal information of Zappos’s customers.
“Defendant failed to adopt and maintain adequate procedures to protect [personal] information and limit its dissemination only for permissible purposes set forth in the FCRA [Fair Credit Reporting Act]. Defendant’s wrongful actions and/or inaction also constitute common law invasion of privacy by the public disclosure of private facts and common law negligence”, the complaint alleged.
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As SOPA’s aftershocks continue to ripple across the US, a slightly different brand of techno-political drama is unfolding over here in Europe, where the European Commission today announced a new set of online privacy regulations. The new legislation, unveiled this morning, was crafted with the intent of giving consumers more control over their online data, and places more pressure upon private companies to protect user information.
According to Reuters, offending firms could be fined at rates of up to two percent of their yearly turnover. The laws, designed to overhaul the 1995 Data Protection Directive, will also make it easier for users to access their data, giving them the power to demand that their personal information be deleted, as long as there are no “legitimate reasons” for a company to store it. Companies, meanwhile, will be required to inform authorities of a data breach as soon as possible, “if feasible, within 24 hours.”
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There’s an alarming rumor circulating that suggests that UK network O2 forwards your phone number to any website visited on a smartphone. Lewis Peckover built a site that displays the header data sent to sites you visit, finding a network-specific field called “x-up-calling-line-id” which displayed his number. Angry users who tested the site have flooded the company’s official Twitter, which is currently responding with:
“Security is our top most priority, we’re investigating this at the moment & will come back with more info as soon as we can.”
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The MegaUpload take-down is one of the hottest stories on the net, involving the FBI, illegal file-sharing, hackers’ revenge, the specter of SOPA and more. But don’t be too curious…
It’s only natural, given the relevance of the MegaUpload takedown, for people to be interested. What does the FBI message pasted on the MegaUpload front page look like? Is the site still down, or has it found some way to survive? But beware, because curiosity can infect the cat.
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Google is inviting users to take a trip down Memory Lane, with a new web archive on one of its most celebrated traditions — the Google doodle. Last week, the search giant unveiled a revamped doodle website, complete with an interactive gallery of over 1,000 homepage designs from around the world.
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In the spirit of Christmas Google has another tricky search result today: Simply search the words “let it snow” and watch what happens. Of course, your search results will contain a video of that old favorite song, but what’s that? Snowflakes falling in your browser? The Google bar freezing up?
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Most of my readers on this blog and my other blogs and websites will probably have registered for an account with such sites as Facebook, Twitter and even Foursquare. But did you know that the thieves are using this against you?
Have you ever added your location to some of your tweets, your posts and updates? Have you ever added holiday photos while you were away? Well, its become a ‘well known fact’ that thieves are now using such social networking sites to target their next victim.
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CyberSource, a payment management company working in e-commerce and providing a fraud management system has published its latest report: UK Online Fraud Report 2012.
Shaun is a man with a background in joinery, music, administration, management, web development and technologies. A devoted friend and father to his wonderful daughter, he is also a family man. He likes to create and produce things which has led him into a stronger, more passionate pursuit of development.
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