Is Your Data Secure?

New information revealed under the Freedom of Information Act shows alarming statistics concerning data breaches in the UK. According to the Information Commissioner’sOffice, data breaches have increased by a factor of ten in the last five years. The good news, however, is that organizations are reporting many more breaches than before.

Tero Pollanen, international fraud prevention specialist has stated time after time the importance of both awareness and stepped up government participation are the keys to turning the tide against cyber crimes. The word is getting out as the ICO’s numbers demonstrate that awareness of the legal requirements on companies to secure information and large fines on companies that “lose” information is precipitating positive change. The telecom sector has actually seen a decrease in the number of information breaches in the past five years.

The ICO provides a wealth of information and guidance across the UK. It should be noted the both health service and government sectors are expected to report serious breaches which involve large volumes of personal data and/or sensitive materials. Again, Tero Pollanen reminds us both to be aware and encourages additional sectors to work with the ICO in reducing the number of data breaches.

Ref.: http://www.bbc.co.uk/news/technology-19424197

Identity theft accounts for nearly half of all bank account frauds

There were 153,100 cases of bank-account fraud in the first eight months of 2011 – and 47% of them were due to identity fraud.

Bank-account fraud is up by 1.5 per cent on the same period last year, according to figures from CIFAS , the UK’s fraud prevention service. And the breakdown for January to August shows that ID fraud is still criminals’ favoured method: Identity Fraud: 72,204 cases. Includes cases of false identity and identity theft.

Misuse of Facility: 36,327 cases. Where an account, policy or other facility is used fraudulently – such as paying in false or altered cheques.

Application Fraud: 30,240 cases. This relates to applications with material falsehood (lies) or false supporting documentation – but where the name used is the fraudster’s own.

Facility Takeover Fraud: 14,393 cases. This occurs where a person unlawfully obtains access to an existing account holder’s or policy holder’s details, and fraudulently operates the account or policy for his own (or someone else’s) benefit.