January 26, 2018 — Latest ONS Report shows fraud and computer misuse as prevalent issue
Don Duncan, Director at NuData, comments on a report issued today by The IT Security Guru disclosing that individuals are 10 times more likely to be a victim of fraud and computer misuse than a victim of theft from the person and 35 times more likely than robbery.
This recorded fraud figure is still astounding, and bad news for consumers who often bear the brunt of many direct costs and pains (especially in account takeover and new account fraud). The increasing volume of global attacks has also been attributed to more fraudsters willing to commit the crime, more data available on the black market, and more financial institutions and merchants that are vulnerable to attacks. It’s incumbent upon companies to secure their customers’ trust by keeping their accounts safe from hackers without hurting their customer experience. They can’t afford to hear their customers say, ‘My account got hacked again.’
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