Most people have some exposure to fraud deterrents in their daily lives. For the honest person, these deterrents are in place for protection and peace of mind. For the criminal, they are barriers he or she hopes to breach.
According to a new report, the majority of online fraud in the United States is coming from several cities across the country with high concentrations of data centers. These cities, which include Tampa, New York, Chicago, Atlanta, and LA among others, are seeing increased rates of fraudulent activity, especially across the Internet. The correlation between the number of data centers and the high level of fraud suggests that stolen identities may be being funneled via VPN servers and proxies.
Scientists out of the National University of Singapore have found a method of utilizing nanohole technology to potentially prevent the counterfeiting of documents, credit cards, currency, and ID cards. The new technology was designed to incorporate over 34,000 nanoholes on an "ultra-capacity nano-photon sieve" surface. This surface would ensure that holograms could not be replicated by counterfeiting fraudsters.
Identity theft and fraud among senior citizens is rising across the country, with many states as well as the U.S. government taking steps to help protect seniors from this risk. Why are seniors more at risk for fraud and identity theft? It may range from their distribution of personal information to generational beliefs making them more trusting of strangers. Regardless of the reason, fraud prevention for seniors is key to keeping the risk low and preventing scams from occurring.
Employees tasked with running cash registers and point of sale (POS) systems are a store’s first defense against check and currency fraud. Training point of sale employees to detect fraudulent identity documents, counterfeit money, and other problematic materials is an essential part of bolstering a company’s resistance to loss and theft. However, even the best training programs cannot take the place of specially designed fraud resistance equipment. Items like counter-mounted ultraviolet lights provide valuable support in loss prevention and company security.
Topics: fraud protection tips, retail fraud, counterfeit money, fake money, counterfeit fraud, counterfeit detection, fraud prevention protection, counterfeit fraud prevention, counterfeit money detectors, fraud prevention
Counterfeiting and identity theft are major concerns for the public, and safety of private financial information is very important to the American people. According to a recent survey commissioned by a major credit card company, 77% of those polled explained that they worry about their financial and Social Security information being compromised.
For as long as governing bodies have released official documents and notes, counterfeiting has been an accompanying issue. This deceptive practice dates all the way back to ancient Rome, when counterfeiters would actually shave small flecks of gold and silver off of coins in order to make their own money. In this perpetual game of cat-and-mouse, it often seems like counterfeiters are always able to stay one step ahead of countermeasures.
Does your business handle in-store credit applications? Are you verifying the identifications of the applicants when they apply for loans? How are you verifying credit applicants’ identification? These are all valid questions you should be asking yourself if your business issues store credit on a consistent basis.
Recently we were approached by a customer, who was in need of a solution for verifying the identifications of their loan applicants.
Over the past 14 months, the Bank of Canada has released a series of newly designed banknotes. The new polymer notes feature a slew of security features, including raised ink, a transparent strip containing a metallic images that change colour when you tilt the bills, transparent text, and a frosted maple leaf window.
Fraud and data security breaches come in so many different forms and from so many different channels, that has become necessary for financial institutions (FI's) to gain a better understanding of how criminals operate and how risk management is changing. By achieving a higher level of comprehension of the fraudster, FI's will have a better chance of mitigating the risks and recognizing attacks before they do serious damage. FI's also need to adjust fraud detection and prevention strategies to keep up with the evolving trends. In some cases this might justify investing in new technologies, while in other circumstances, it could require restructuring of organizational "domains". In all cases, it means improving your odds of detecting a threat before it reaches the customer.