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Online Fraud?

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It was a clever fraud, mimicking the real home site and nearly fooling over 400 customers into revealing highly sensitive information. So good were the people behind it that within 20 minutes of a warning note appearing on the real Barclays home page it was also on the fake one. The Barclays email that directed customers to the fake site is an example of 'phishing' - using spam to lure computer users to websites cloaked to look like reputable companies and to deceive them into divulging personal financial data.  Similar cases at eBay and Citibank have highlighted the potential for online fraud. 

A survey published by the SAS Institute found that an incredible 62% of top-tier companies across all sectors in the UK have no measures in place to combat internet fraud. It seems that in the rush to have an online presence and start trading over the net, many companies forget about security and fraud online fraudprevention. 

Whilst many recognise the potential risks involved in online commerce, they have not yet realised the full implications, nor the likely cost to their businesses. In fact a frighteningly low proportion of credit card fraud results in prosecution by the police. Consequently some businesses have been hit more than once by the same fraudster before the crime was detected and the account closed. 

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