The nature of fraud is changing and it's alarming. The crooks are getting smarter.
Forbes reports that fraudsters have taken a completely new tack. "Barely a few years back, the items on the radars of these thieves were mostly expensive items, like high-end electronics. They held high value and could be fenced easily. As retailers now have applied extra checks on these items, the bad guys have turned their attention to innocuous stuff like printer cartridges. When stolen in bulk, these items can have a big financial impact. Hacking accounts of old customers or members of membership clubs are other ways of committing fraud. Every such attempt is a one-shot weapon and the criminal hackers are determined to make most of it. Online ordering makes it possible to carry out a large number of transactions and make millions at one go. By the time a fraud is detected, there is already a big hole in the retailer's pocket and a dent in confidence."
Then we have reports that thieves are now using 3D printers to create car skimmers that are then attached to ATMs. The skimmer also incorporates a small pinhole camera that starts recording the PIN pad whenever a card is inserted.
Readwriteweb warns that the big one to watch out for in 2012 is malware targeting smart phones. These include things like apps that will charge money through text messaging and calling of premium services, botnets and malvertising where genuine looking ads pop up linking back to fraudulent sites that can download malware to a device.
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