While there has been much coverage of missing data discs, hackers cracking systems and the like, the full extent of the underground world of fraud has only just been revealed in a deeply disturbing report which was published today. Symantec, the leading internet security firm, have announced the results of their recent review of the criminal underground network which the police are finding so hard to crack. It seems that while we battle to maintain the security of our systems and personal details, those which have been stolen are on sale for as little as £5 to anyone who is interested!

Even though the UK has been in the news of late over a number of high profile data handling errors, this is something which is taking a grip right around the world. Top of the league, again, was the US with over 31% of worldwide fraudulent activity within their boundaries, China and Germany accounted for 7% each and while the share of fraudulent activity in the UK was only 4% of the worldwide figures, the details are still alarming. So what exactly is going on?

There are a number of issues which need to be addressed to improve online security which include :-

Social Networking Sites

As bizarre as this may sound, Social Network Sites are the first port of call for many of those looking to commit ID fraud or worse, with many users of these sites posting very detailed and personal information on their profiles. Using the details available it is then possible to obtain copies of birth certificates, etc and assume the life of someone else. This can lead to loan applications, mortgages, credit cards and much more, with the victims only finding out when it is too late.

Spyware

Spyware is something which we have all come across but it is still the tool of choice for so many fraudsters, offering the chance to upload software to a victim’s computer, access their files and in many cases use their computer to carryout more fraudulent activity in the name of someone else. It is vital that we all ensure that our machines are safe, our firewalls are up to date and carryout regular virus scans to see if any new threats have sneaked in.

Password Protection

How many of us use the same user name and password for a vast array of our secure accounts and websites? How many of us have not changed our passwords at any time in the last 6 months? How many of us think that it will never happen to me? These are the easy pickings for the hackers and the fraudsters, and it has proved very very simple to hack into a whole array of bank accounts and cause havoc.

The fact that personal information on a possible fraud victim is changing hands for anything from £5 in these online cyber crime shops is frightening enough, but the fact that many of us are making it so easy for them is even more alarming. Let us all do our bit and try to stamp out what could become a massive crime wave if we are not careful.