The largest perpetrator of cyber fraud is organized crime, making up about 80% of all cyber fraud, according to information provided at the U.S. Bank a webinar called ‘Staying safe from cyber fraud,’ held on Oct. 27.
“It’s highly organized groups,” said Charles Banks, information security manager, at U.S. Bank, one of two hosts of the webinar. “They run their organization like a business.”
“There will be a team of people who work on phishing. There are teams who work on identity theft,” said Dave Pilot, fraud risk manager, at U.S. Bank, the second host. “The attackers are not a single person. Because there is a full supply chain in the criminal world.”
The webinar defined it as a crime committed by a device (mobile, PC, etc.) with the intention to corrupt another’s financial and personal information.
Some signs to be wary of include:
• Communications from fake (but official sounding) sources, asking for personal or financial information
• Communication putting pressure on you to pay now
• The offer to help requires a fee
• Friend requests from unknown persons
• People claiming to know you, trying to establish a relationship
“Banks will not ask you for your login information, or your birth certificate, because they already have that information,” Banks said. “If you receive any messages like this, contact your…
