This year has been an unfortunately busy one for the fraud prevention and
identity security industry, with the rate of corporate data breaches, business
fraud and identity thefts continuing to rise. In 2009, phishing attacks alone
increased by as much as 600 percent according to Bank Info
Security’s Linda McGlasson.
McGlasson recently published an article detailing the ten
most prevalent types of fraud that the industry can expect to battle in 2010.
The article stands as an urgent advisory that fraud prevention
services are now a necessary part of any security program. Furthermore, as
the Federal Trade Commission (FTC) initiates its Red
Flags Rule next year, these measures will become even more important as a
way to combat evolving hacking methods. “It started in earnest in 2009 and will
only get worse in 2010 until banks put effective controls and fraud detection
in place,” said Avivah Litan, an analyst at a prominent information technology
research firm.
The responsibility of protecting personal, consumer and national
information from fraudsters goes well beyond the banks. In fact, all business entities
across the nation and around the world should take note. Scam artists can
operate wide international operations quietly and undetected right in our
neighborhoods, as many major data breaches have proven in the past 12 months.