As we discovered recently in our post on '10 ways to lose money to fraud', it seems there is no limit to the extent fraudsters will go to con innocent people out of their most valuable assets.
One strain of fraud that has made headlines recently is that of identity thieves bombarding call centres.
Pindrop Security has revealed that approximately one out of every 2,900 calls is perpetrated by a fraudster, with the intention of gaining access to customers' accounts to steal information. In many cases these attacks originate online, where criminals manage to acquire sensitive data and use it to con phone operators out of their customers' personal details, leading to identity or financial theft.
Vijay Balasubramaniyan, founder of Pindrop Security, explained: "They try to get information on an account, then change personal information like an email address, physical address or telephone number. That way any time the organisation tries to make contact, it goes instead to the fraudster and the customer is cut out of the loop. It leads to complete account takeover."
Billions of pounds are lost every year to fraudsters through fake deals and scams, through an incredibly diverse bag of tricks ranging from 'pot luck' attacks to carefully targeted, elaborate schemes. Indeed, it's regrettable that those individuals who invest so much time planning, researching and delivering those fraudulent schemes don't put that same level of dedication and determination into a legitimate business.
As it is, fraud is becoming increasingly sophisticated and continues to threaten businesses and individuals alike. Absolutely no-one is immune to this constant menace, and the BCA is committed to raising awareness of fraud by continually working with the police and other government authorities, in order to help innocent people stay safe.
For further information on how to recognise and report suspicious activity, visit the BCA's dedicated page here: http://www.bca.uk.com/consumers/fraud-scams