Essay about Avoiding Online Fraud

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Avoiding online fraud
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Stealing money from people by fraud has occurred throughout history. Its form has changed as technology has moved on. As new methods of payment are developed, criminals find new opportunities to exploit such methods for their own gain. Task 1:
Find out how criminals could use lost or stolen credit/debit cards fraudulently before ‘Chip and PIN’ cards. They could do it as all you had to do is swipe the card and then sign for it which could make it very easy for fraudsters to find a lost card, swipe it and then sign it pretending to be the real owner of the card. |

Skimming
Skimming is the process of copying the details held on a credit/debit card for fraudulent use. To use a card these days a criminal would need both the card details and the PIN. Skimming copies the card details but PINs are still required for off-line purchases.

Task 2:
How do you think criminals who operate in retail/food outlets or at ATM machines can obtain PINs once cards have been skimmed? You might find this link useful |

Task 3:
What is meant by the term ‘bin raider’? Is a name given to people who raid bins looking for personal details such as passwords, bank numbers, any security numbers, card pins etc. anything where they can use for fraud and steal your identity, name, money etc. |

‘Card not Present’ Fraud
As it suggests, this term applies to situations where the actual card is not needed for purchase. The obvious example is online purchases. When you buy online you just need to enter some personal details, the card details and the security code on the back. If a criminal has both of these then its bad news! This is why it is essential to shred all documents that contain personal information, particularly your bank details.

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