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UK credit card fraud rate jumps to five-year high
redit card application fraud hit
C a five-year high in the last three months of 2021 , new Experian insight reveals .
Latest data from the National Fraud Hunter Prevention Service , analysed by Experian , found the detected fraud rate for cards rose by 42 % between October and December 2021 , when compared to the previous quarter – the highest rate since 2017 .
Typically , an increase in fraudulent activity is detected over the festive shopping period , but 2021 proved especially busy for organised fraudsters looking to take advantage of an increase in genuine applications to access credit using stolen or illegally obtained personal details .
Almost three-quarters of cases detected involved the fraudster using the victim ’ s current address to apply for credit ,
highlighting the importance of people doing what they can to keep their personal information safe and secure , especially when using online apps and social media .
Existing and emerging fraud trends are likely to continue to grow in 2022 . Experian predicts established coldcalling and text scams and fledging cryptocurrency schemes will become of increasing concern throughout the year .
“ Genuine applications for credit tend to rise as we enter the busy Christmas shopping period , but the extent to which fraudsters tried to take advantage this year is truly eye-opening ,” said Eduardo Castro , Managing Director , Identity and Fraud , Experian UK & I . “ These figures should serve as a warning as to how important it is that people look after their personal information .”
UK cybersecurity companies combine forces to champion next-level threat intelligence
earchlight Security , a
S provider of specialist deep and Dark Web monitoring products , and Omniscope , a digital threat intelligence and investigations business , have announced a partnership that brings next-level threat intelligence to enterprise customers and law enforcement agencies alike . The solution combines Omniscope ’ s Smarti3 Intelligence platform for open-source threat intelligence of the web , including deep web social media , with Searchlight Security ’ s DarkIQ and Cerberus products for monitoring and investigating the deep and Dark Web .
Omniscope ’ s Smarti3 digital intelligence platform provides all the workflow and databasing tools necessary to capture and manage information from web sources to aid in investigations and give security analysts threat intelligence needed to protect their organisations . By adding Searchlight Security ’ s deep and Dark Web monitoring capabilities , this intelligence is extended to the criminal underground . DarkIQ , for instance , allows companies to build bespoke threat profiles from information gathered across the Dark Web , identify potential risks and take recommended corrective actions . For law enforcement and those that need deeper investigative capabilities , Searchlight ’ s Cerberus is a world-leading intelligence platform for the deep and Dark Web that can monitor suspicious activity and assist in bringing criminal actors to justice . www . intelligentciso . com
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