Why is there such a rise in Fraud attempts?

Even before the lockdown there was an increase in the amount of online fraud attempts being made. Organised criminals seem to see this as being a real way forward and a great way to earn more revenue. It is easy to see why. When you are faced with an email which seems threatening or is plainly false, the first reaction is partly to panic. What makes the scam even more convincing is that criminals can make the email look particularly genuine. They will even offer a solution on the very email that they have sent. Unsurprisingly, this is usually a way of inserting a virus into the computer in order to extract ransomware.  Alternatively it is a helpline number that puts you through to an operative who will take details that they will then use for criminal purposes afterwards.

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The reason fraud has increased is due to our online activities. Banks are closing branches in response to our new ways of working with them. While it is true that computers and internet systems can speed up banking processes, it also means we need a more robust approach to our own personal banking safety online. While financial institutions will do what they can with PIN numbers and passwords, a certain responsibility from ourselves must also be acknowledged.

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Scammers and fraudsters have always sought ways to con people out of money. It’s no surprise that they will try and use modern technology to aid them. At least there is help if things do go wrong. Cyber Liability Insurance is available through https://jmpcyberinsurance.co.uk/what-we-do/cyber-liability-insurance/.

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