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Security And Risk Complaints Online

Online Security Review: Fraud-tervention on Identifying and Preventing Financial Fraud

Financial fraud continues to evolve; it's more sophisticated, harder to detect, and takes advantage of people's emotions like fear and excitement. According to a recent TD survey, 85 per cent of Canadians worry about themselves or their loved ones becoming a victim of financial fraud. More than one-third (37 per cent) worry that their elderly family members are too trusting, and that their children are unaware of the risks.

 

"Debit card, credit card and cheque fraud are more common because of sophisticated approaches that target emotion as well as transactions," says Mushtak Najarali, Senior Vice President of Everyday Banking Products at TD Bank Group. "Prevention and protection are key to fighting financial fraud, and so is the relationship between customers and their financial institution. Both parties working together is the best first line of defense to help identify and avoid financial fraud."

 

Many Canadians know the basics of protecting themselves from financial fraud. In

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Cyber security: Fraud rises as cybercriminals flock to online lenders

Cybercrime is becoming more automated, organized and networked than ever before, according to the ThreatMetrix Cybercrime Report: Q4 2016.

                      

Cybercriminals are increasingly targeting online lenders and emerging financial services, says Vanita Pandey, vice president of strategy and product marketing, ThreatMetrix.

 

[ Related: 8 tips to defend against online financial fraud threats ]

 

 

ThreatMetrix's report is based on data drawn from its ThreatMetrix Digital Identity Network, which analyzes about 2 billion transactions per month for insight into traffic patterns and emerging threats. The network uses a real-time policy engine to analyze transactions — about 44 percent of which originate from mobile devices — for legitimacy based on hundreds of attributes, including device identification, geolocation, previous history and behavioral analytics.

 

 

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Cyber Attacks Against Financial Services Cost Consumers £8bn in 2016, Research Reveals

Online financial services and lending companies are increasingly being targeted by fraudsters and costing consumers millions of pounds around the world last year alone, according to research.

Cyber attacks against online lending companies and alternative payment systems increased 122pc last year, according to Threat Metrix, a security company that monitors more than 20bn online transactions a year.

The fraud is estimated to have cost consumers as much as £8bn in 2016, the company said.

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The spike in fraud comes as online financial services are growing in popularity. A combination of greater trust and ease of use means customers are increasingly opting to use digital businesses. In the UK, financial services transactions online grew by 10pc last year.

 

But this uptick has made the industry a prime target for cyber attacks, ThreatMetrix said after detecting 80m attacks on the financial sector using fake or stolen credentials in 2016. 

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Online Fraud Detection on 5 ecommerce fraud predictions for 2017

Ecommerce fraud is on the rise as more consumers turn to online shopping. Luckily, by being vigilant, merchants can fight fraud and win.

 

As the number of consumers turning to online shopping increases, the rise of online fraud is also rising.

 

Those committing internet crimes are depriving their victims of either funds, interests, personal property and/or sensitive data. As the threat escalates, consumers and companies alike are seeking various methods to tackle the phenomenon.

 

 

Ecommerce fraud has a long and controversial history. Thus, providing a forecast for the months ahead can help retailers adopt an adequate solution to confront the many challenges in 2017.

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Cyber Attacks Against Financial Services Cost Consumers

Online financial services and lending companies are increasingly being targeted by fraudsters and costing consumers millions of pounds around the world last year alone, according to research.

 

 Cyber attacks against online lending companies and alternative payment systems increased 122pc last year, according to Threat Metrix, a security company that monitors more than 20bn online transactions a year.

 

The fraud is estimated to have cost consumers as much as £8bn in 2016, the company said.

 

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The spike in fraud comes as online financial services are growing in popularity. A combination of greater trust and ease of use means customers are increasingly opting to use digital businesses. In the UK, financial services transactions online grew by 10pc last year.

 

But this uptick has made the industry a prime target for cyber attacks, ThreatMetrix said after detecting 80m attacks on the financial sector using fake or stolen credentials in 2016. 

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Online security review: Hacking Is About to Get a Lot Harder With Card less ATMs

A few years back, a friend of mine was traveling from New York City to Paris. After landing at Charles de Gaulle Airport, he reached for his wallet, but realized it was no longer in the back of his trouser pocket. He had been pick-pocketed during his metro ride. All of his cash, credit cards, and debit cards were gone.

 

 

 

Were something like this to happen in the near future, my friend would’ve had a much easier time making it through the next 48 hours, so long as he had his smartphone. In just the last few weeks, a number of banks have announced plans for cardless ATMs. Wells Fargo (WFC, +0.26%), J.P. Morgan Chase (JPM, -0.32%), and Bank of America (BAC, -0.16%) are all piloting their own initiatives. The basic idea is that a code will be generated on the banks’ mobile apps that consumers can use to unlock their bank accounts, enabling them to withdraw money from an ATM simply by tapping their device when they’re in front of the ATM.

 

 

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Cyber Security - Biometrics of Mass Defense?

With so much buzz surrounding biometric authentication, it should come as no surprise that several companies looked to increase and improve the biometric options they offer over the past month. HYPR, for example, debuted what it is calling a biometric shopping platform at the National Retail Federation’s BIG Show in New York City in January. The platform is designed to help retailers combat an uptick in online retail fraud, caused largely by ineffective or stolen password credentials.

 

She noted that advanced security features, such as biometric authentication devices, are being built directly into the smartphones that consumers use every day, giving companies new tools in the fight against fraudsters. She also pointed out that as fraudsters utilize better and more sophisticated fraud techniques, companies and their leaders are taking security more seriously than they have before, investing in cutting-edge solutions and methods to beat fraudsters at their own game.

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Online Security Review Steps to Protect Yourself from Tax Identity Fraud

By William F. Whelan, guest columnist and Senior VP, Branch/Government Banking, Capital Bank.

 

As the 2017 tax season gets underway, Capital Bank of New Jersey is urging all customers to take extra precaution when filing their return to prevent their exposure to tax fraud.

 

“Fraudsters are using very clever tactics to get a hold of your personal information and submit false tax claims,” said David J. Hanrahan, Sr., President and CEO. “Consumers must be suspicious of any communication from the IRS—through e-mail, text or social media—that requests personal information, and should keep a watchful eye out for missing W-2s and mail containing sensitive financial information.”

 

 

Tax identity fraud takes place when a criminal files a false tax return using a stolen Social Security number in order to fraudulently claim the refund. Identity thieves generally file false claims early in the year and victims are unaware until they file a return and learn one has already been filed in t

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Online Security Review Steps to Protect Yourself from Tax Identity Fraud

By William F. Whelan, guest columnist and Senior VP, Branch/Government Banking, Capital Bank.

 

As the 2017 tax season gets underway, Capital Bank of New Jersey is urging all customers to take extra precaution when filing their return to prevent their exposure to tax fraud.

 

“Fraudsters are using very clever tactics to get a hold of your personal information and submit false tax claims,” said David J. Hanrahan, Sr., President and CEO. “Consumers must be suspicious of any communication from the IRS—through e-mail, text or social media—that requests personal information, and should keep a watchful eye out for missing W-2s and mail containing sensitive financial information.”

 

 

Tax identity fraud takes place when a criminal files a false tax return using a stolen Social Security number in order to fraudulently claim the refund. Identity thieves generally file false claims early in the year and victims are unaware until they file a return and learn one has already been filed in t

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Security and risk complaints online: Prevent identity theft

Just like burglars and thieves, cyber criminals have many different ways to steal personal information and money. Just as you wouldn't give a burglar the key to your house, make sure that you protect yourself from fraud and online identity theft. Know the common tricks that criminals employ to help you protect yourself from online fraud and identity theft. Here are a few simple tips.

 

 

Don’t reply if you see a suspicious email, instant message or webpage asking for your personal or financial information

 

 

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