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Topics > Caution - Bad Experiences > ID: 1874

Bank Info Security releases list of top ten fraud threats for 2009

Posted Date: Dec 20th, 2008 09:06 | Hits: 632

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  • pplcheryl63
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As we move into 2009 the face of fraud is changing.  As the criminal element becomes more organized they are looking to adjust the way they do "business".  As different government agencies attemp to battle Identity theft and fraud by enacting new laws, these organized agencies will react to combat what we do to prevent ourselves becoming victims.

According to Bank info Security the top areas of fraud will be:

1. ATM network fraud - since ATMs provide immediate cash the criminals can get their hands on the money immediately, rather than buying big ticket items which need to be resold

2. Check Fraud - There is really no technology available to verify a paper check.  if the routing number and account number are valid then there's not much that can be done.

3. "Laser guided" precision strikes - Like Chioce Point, Lexus Nexus and other data compiling agencies, criminals are building their own data bases that rival the legal ones.  With the information they have on demographics they can devise scams that are targeted on certain demographics, and they have enough information to put the intended victims at ease.

4. Phishing attacks will continue - However we will see more sophisticated types of Phishing attacks.

5. Check Image Fraud - instead of accessing your account and draining it, they will go to the check image page where every bit of information on that check is avalable to them, including your signature.

6. "Zero Day" attacks - Rather than immediately take advantage of weaknesses found in an institution or security system and gradually attacking they will sit on the information an coordinate one immediate mass attack.  This prevents the instituion from reacting and fixing the problem until the damage has been done.

7. Low N Slow attacks - The criminal are developing patience these attacks will take place over a period of days or months.  Once a hacker enters the system they will ignore it for a few days then come back, if the attack has not been discovered they will hack into another area.  The goals is to completely compromise the entire system and not just a certain area.

8. Drive-by Attacks - Infect customers computers with a trojan by using a phishing site, when that customer logs onto the actual site the customer unknowingly infects the institutions network.  ALso there will be a rise in Amatuer hacking attacks as these amatuers look for a way to get their hands on quick cash.

9. Phone attacks - Many institutions have beefed up security on their computer networks but almost every financial institution has some sort of an 24 hour customer service line.  Istead of targeting the computer system they will target the phone lines and enter through this "path of least resistance".

10. Insider threats - The employee is always the weakest link in information security.  Traditionally most employees causing a breach do not have malicious intent.  However with the economy, it's expected that many more employees may access data for criminal purposes.

Knowing what threats are coming can help you know what to look for.  As thieves respond to the changes in security procedures, the threats will change and this is just a list of the top 10 threats. 

If you would like to read the entire article you can visit Bank Info Security at or click the link in the top of this article.

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Member's comment

pplcheryl63  Dec 20th, 2008
It would be nice if there was a perfect solution but there's not. We have no control over our personal information anymore. Too many people have it and they often don't protect it as they should. So even when we do everything right, we are still at risk of someone else letting our information get into the wrong hands.

C&B enterprises  Dec 20th, 2008
I can relate to this I have been hit a couple of times allready still trying to find a perfect solution to the problem.

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