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Phishing scams help push online fraud and facility takeover

Businesses and consumers need to step up their internet security measures because facility takeover and online fraud are gaining pace as the recession continues, according to new research.

A study conducted by UK fraud prevention service CIFAS among its 260 member organisations has found these two as the most popular, with a 207 per cent increase over 2007 registered in facility takeovers.

Phishing scams are one of the techniques used to get the data to facilitate this fraud as it relies on compromised debit and credit card information.

Commenting on the findings, CIFAS communications manager Richard Hurley said that "a renewed and collaborative focus on anti-fraud procedures" is increasingly becoming vital.

"While the rest of us are reining in our behaviour as a result of the recession, the increase in facility takeover and online frauds demonstrates clearly that fraudsters are simply redirecting their efforts," he said.

The revelations come in the wake of research from Money.co.uk showing that online banking customers risk falling into traps set up by crooks as 31 per cent do not know how to spot a phishing scam.

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