Fraud damaging UK economy
A report commissioned by the National Fraud Intelligence Bureau (NFIB) and fraud prevention group Get Safe Online has revealed from April 2015 to April 2016, cybercrime cost the UK economy a staggering £10.9 billion. The loss equates to £210 for every person over 16 living in the UK, however, it is feared the actual scale […]
New research shows true extent of fraud
The latest research from Financial Fraud Action (FFA) UK shows that a financial scam was committed every 15 seconds in the first six months of 2016. More than one million cases of fraud were recorded between January and June—a 53% increase on the same time period last year. The impact of fraudulent activity is having […]
The threat of OTT bypass is spreading
According to telecommunications research carried out by Revector, a mobile anti-fraud specialist, almost 60 per cent of operators believe that OTT bypass is the single biggest threat to revenues, highlighting the detrimental effect the practice is having on the telecommunications industry. The initial responses to the survey have shown a substantial reduction in revenues as […]
New Regulations for OTT Providers
The European Commission is set to announce stricter regulations for over-the-top (OTT) VoIP providers. Until now, applications such as Viber, Skype and WhatsApp have been able to offer consumers free calling and messaging services via the internet with very little restriction and regulation compared to traditional telecoms companies. However, these OTT providers are also able […]
IoT Security: The Rise of Cyber-Attacks
The latest figures from Cisco predict that there will be more than 50 billion devices connected to the internet by 2020. Research from the Mobile Economic Forum (MEF) shows 60 per cent of global mobile users are concerned about the privacy and security of connected devices. The security of connected devices has come under increased […]
What are the dangers of using Apple Pay?
Ever since its launch in 2015, Apple Pay has dominated the mobile contactless payment arena ahead of its nearest competitors which include Samsung Pay, Android Pay and other NFC payment systems offered by high street banks. A recent report by Bloomberg states the service has more than 12 million active users—but are these ‘digital wallets’ […]
TDoS joins DDoS as further threat to business continuity
With the news earlier this year that two thirds of large UK companies have been hit by cyber-attacks in the past year, the threats to business continuity continue to grow. Most businesses fear a DDoS style attack. This is a co-ordinated attack, typically on a website, that attempts to bring the particular site down by […]
The Risks of Social Engineering
According to the latest figures, Facebook—the world’s most popular social network—has 1.51 billion active mobile users. For fraudsters and cyber thieves, this is a huge market for potential social engineering fraud. Internet security firm BullGuard defines social engineering as “the use of deception and manipulation to obtain confidential information. It is a non-technical kind of […]
The IoT revolution: A new type of fraud
According to a recent report from Gartner, there will be 30 billion smart devices connected to the internet by 2020. Meanwhile CEO of Cisco, John Chambers believes that this figure could reach 50 billion, opening up the way for a new $19 trillion Internet of Things (IoT) industry. Inevitably, as the IoT revolution is set […]
New EU regulations may result in increased SIM Box Fraud
From June 2017, mobile roaming charges will be completely abolished within the EU, meaning consumers will be charged the same rate for using their mobile phone in the EU as they would be if they were at home. Whilst this landmark announcement is great news for mobile phone users, the new regulations could have a […]