Locks and Security News: your weekly locks and security industry newsletter
25th January 2023 Issue no. 640
Your industry news - first
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Experts at VPNOverview take a look at international cybercrime
They looked at a number of datasets on how 10 of some of the biggest countries have been affected by cybercrime, identity theft, and how they’re dealing with it - including their response to cybercrimes.
Taking a more direct look at how these scams can affect the UK in particular, recent data shows most and the least popular channels for scamming people in the first half of 2021 were:
Mobile Banking - 106,165 cases
Internet Banking - 70,916 cases
Telephone Banking - 6,739 cases
Branch - 3,768 cases
Despite mobile banking being the highest number of cases - internet banking had the most monetary loss. The experts said that this is likely due to mobile banking apps having limits on transfers.
The experts also looked at internet banking fraud across the datasets, finding as usage of online banking rose (due to COVID), there was a rise in fraudsters gaining access to online banking.
They also found an almost 100% increase in fraud from the first half of 2020, compared to the first half of 2021. This is as well as almost 70% increase in gross loss - however, 16% of losses were recovered after the incident.
The same can be said for mobile banking, as despite the cases being lower than remote banking, there has been an over 100% increase in gross loss, with 11% of the losses being recovered.
22nd December 2021