Fraudsters can easily conduct credit card fraud and identity theft through different avenues
across the Internet from social media to mobile banking. These types of crimes
are growing rapidly with the ease of accessing consumers personal information
through online channels. As technology advances, new places are available for
cyber criminals to take advantage of companies and consumers. As industry
leaders, we each have the responsibility to understand the evolving fraud
prevention needs online.
The intentional distortion of truth, in order to
benefit with something of value, is known as fraud. One of the main concerns
with fraud is a companys online security and fraud prevention plan. Without implementing
multiple layers of security, fraudsters can easily slip through the walls and
compromise all of your data. Online identity theft is the illegal use of someone
elses personal information, like out-of-wallet questions, in order to obtain
money or credit. Social media fraud goes hand in hand
with identity theft. Fraudsters use social media to engage in identity theft
and entice individuals to unknowingly surrender personal information. Along
with identity theft and fraud, corporate security breaches occur when hackers
exploit employees through social engineering and scams. These hacking techniques
and scams can result in your company losing everything from data to reputation.
To address these online threats, cyber security
across the Internet needs to be enhanced. Adding layers of security to your
system will help prevent fraudsters from accessing your data. Solutions like identity verification, dynamic KBA, drivers license verification and more assist in protecting your system, you company and your
consumers. If you ever fall victim to a cyber crime, the Electronic
Crimes Task Force (ECTF) can help with identifying
and locating cyber criminals connected to cyber intrusions, bank fraud, data
breaches, and other computer related crimes. Taking the proper precautions in
advance will help ensure that you never have to work with them.
[Contributed by EVS Marketing]
