Credit Fraud

ID Fraud up 13 Percent – Javelin Identity Fraud Report

In 2011, nearly 12 million Americans were victim of identity fraud, a 13 percent jump from 2010.  People are monitoring credit cards more thoroughly then ever before and credit card companies have beefed up their security procedures to help prevent fraud.  So why the increase in fraud?

Turns out that thieves have moved on to smartphones and social media.  People tend to let their guard down a little bit when dealing with the phone and social networks, leaving the door open for scammers to take advantage of them.

One thing to keep in mind is that thieves are always one step ahead More >

SpyEye Trojan Steals Your Money, Covers Its Tracks

The original SpyEye Trojan was effective at stealing bank account credentials for online banking. It would also make fraudulent transactions as the user was logged in to the account, allowing them to watch their balance drop to zero. The updated version of SpyEye, discovered by Trusteer, still takes the login credentials, but then adds a twist.

Instead of allowing a user to see the fraudulent transactions being made, it covers its tracks. The Trojan intercepts the communication with the banking website, allowing it to alter transaction records and account balance. So what does this mean? Your bank account could be at More >